Post Office boss reads ‘backing off’ ahead of Horizon investigation evidence | Business News

Post Office chief executive Nick Read is temporarily stepping aside to prepare for the next stage of the Horizon scandal investigation.

Read, who succeeded the heavily criticized Paula Vennells after she stepped down in 2019, told staff in a note that he wanted to give his “full attention” to the hearings phase in September, which will examine current practice in the Mail.

His deputy, Owen Woodley, would manage the day-to-day business from Monday, July 15, until the end of August, it was revealed.

Latest Money:
Could the best mortgage rates soon fall below 4%?

Read’s note, first reported by journalist Nick Wallis, focusing on the Post Office scandal, said of his decision: “It is vitally important that we demonstrate the changes we have made and give confidence to the inquiry and the country at large that ‘nothing like This could happen again’.”

Between 1999 and 2015, more than 700 subpostmasters were prosecuted on charges including theft and false accounting after faulty accounting software provided by Fujitsu made it appear their branches were missing money.

Although the sub-postmasters’ convictions have been overturned, many are still fighting to secure full compensation as part of processes designed to speed up final reparations.

The inquiry heard repeated denials of a cover-up by senior figures, including executives and lawyers.

Among the witnesses was Read’s predecessor, who returned his CBE – awarded in 2019 for “services to the Post Office and charity” – amid public outrage over the scandal following the airing of ITV drama Mr Bates vs the Post Office.

Vennells told the inquiry he was too trusting of the individuals involved in dealing with growing questions about previous cases, admitting it was a “lost decade” in identifying miscarriages of justice.

Mr. Read’s tenure has been dominated by fallout amid efforts to restore trust in the Postal Service.

Read more about this story:
Former head of operations at Correios admits ‘missed opportunity’
Government ‘would not have agreed to close the Horizon software’
Horizon IT scandal explained

The business and commerce committee of deputies expressed a lack of confidence in your leadership following an evidence hearing in February this year, accusing him of providing misleading evidence on at least two occasions.

He denied allegations made by former colleague Henry Staunton before MPs that he had threatened to resign several times unless his pay was improved.

It was later discovered that he had been “exonerated” of internal bullying complaints made against him – accusations he has always denied.

A Post Office spokesperson said of Mr Read’s decision: “Proper preparation before a corporate witness gives evidence is important and allows the company to better support the vital work of the inquiry.

“We are fortunate to have a strong senior executive group who ensure the company is well positioned to support postmasters during the busy summer trading period.”