Employees to Receive Shares in UK's Royal Mail
Executive Director
The government of the United Kingdom announced that 150,000 employees of the Royal Mail will receive free shares when the postal service's shares go public, which is expected to happen in the next few weeks. Employees have begun to receive formal notice of the offer, which will result in employees owning 10% of the company's shares. MP Michael Fallon (Conservative), announced the IPO in the House of Commons, observing that "this is the largest employee share scheme of any major privatisation for almost 30 years." The Royal Mail's CEO, Moya Green, said, "By owning 10 per cent of the company, together we will have a meaningful stake in the business. I think this will engage everyone and encourage us to continue to work together to build a great future for Royal Mail."