Top Tweets for #Bonusgate
#PostOfficeScandal #PostOfficeInquiry #Bonusgate
🚨 WAFFLEMEISTER UPDATE 🚨
The Clown has not run away to the join the Circus -but is in fact 'On a Summer Sabbatical' - BLESS ‼️
#PostOfficeScandal #StateCoverUp #Bonusgate
Why is it that as designated 'Accountable Person' for Post Office Ltd Nick Read has to date not been called to appear as a Witness in front of Public Accounts Committee?? He has many questions to answer about his various malfeasances and the Mismanagement of Public Money over the past 5 Years.
Six months ago the Chair of the Business Select Committee, the Rt Hon Liam Byrne MP, had this to say in response to the resignation of Post Office Ltd CEO Nick Read:
"Nick Read has made the right decision to stand down, for himself, the Post Office, and the subpostmasters still awaiting justice. The blunt truth is there were real questions about just how tightly he gripped the crisis, changed the toxic culture of disbelief in his frontline subpostmasters or modernised the business for survival in the 21st century. Sadly it is innocent victims who have paid the price for those failings."
The letter below has recently been released in response to an FOIA request.
The Permanent Secretary Alex Chisholm clearly states the Accountabilities and Responsibilities expected of the CEO and designated 'Accountable Person' for Post Office Ltd.
@liambyrnemp @CommonsBTC @CommonsPAC @jreynoldsMP @gareththomasMP @chiarasimon @CastletonLee @Janetsk20073533 @ElCShaikh @premnsikka @UKHouseofLords @HouseofCommons @DavidDavisMP @kevinhollinrake @RtHonKevanJones
#PostOfficeScandal #PostOfficeInquiry #StateCoverUp #StateSponsoredCrimes #Bonusgate
'Tank' Commander Nick GREED out on manoeuvres in his Secret Santa farewell gift from the POL Board in lieu of 'Good Leaver' status. @PostOfficeNews
Deletion of documents, hiding info from the public inquiry, corrupt manipulation of bonus targets.
Post Office whistleblower lays it all out:
https://t.co/EY4hbB0bfl
#PostOfficescandal #PostOfficeinquiry
#PostOfficeScandal #PostOfficeInquiry #Bonusgate #GoodLeaverStatus
Dear @kevinhollinrake Should Nick Read exit @PostOffice next March with 'Good Leaver' status❓❓❓
This exchange with Counsel to the Inquiry and others, indicates your view that he was simply not up to the job and overly rewarded for failure🔻🔻
Mr Beer KC : "Can we turn, please, to your witness statement. Under the heading “Post Office Board and Culture”, within paragraph 30, you say this: “… there are also signs that the Post Office remains too inward looking and dysfunctional.”
Then examples of being too inward looking and dysfunctional you then give.
You say: “Good examples are:
📮 - the failures to disclose information to the Inquiry,
📮 - the slow pace of disclosure for compensation cases,
📮 - the reluctance to reduce central costs to allow a consequential increase of revenue to postmasters📮 - the Henry Staunton saga,
📮 - the failure to deal with longstanding issues with senior executives, such as Alisdair Cameron,
📮 - the Remuneration Committee’s decision and processes around the sign off of bonuses for complying with the Inquiry’s disclosure requests,
📮 - the persistent and aggressive lobbying by the CEO to significantly increase his remuneration.”
It’s quite the list.
Kevin Hollinrake: Yes.
#PostOfficeScandal #PostOfficeInquiry #StateCoverUp #BonusGate
🔥Nick Wallis has just posted a quite extraordinary blog piece on Jane Davies's Witness Statement to the Inquiry. The former Chief People Officer @PostOffice claims that POL management, led by Nick Read, attempted to delay a key compensation target date in order to ensure they qualified for a bonus. Ms Davies said “changing this target would result in slower compensation payments, in favour of paying a bonus”.🔥
https://t.co/iRM774q9vY
As Nick says "Davies is a Whistleblower. Perhaps the most important one to come forward from the Post Office to date. It is shameful she was not called as a witness to the Inquiry. Parliament and/or Op Olympos need to be investigating what she is alleging."🚨 Great piece as always @nickwallis 👏
@CommonsBTC @liambyrnemp @metpoliceuk @FloraClairePage @edwardhenry1 @PostOffInquiry @HouseofCommons @UKHouseofLords @PaulMar72224296 @premnsikka @TimBushLondon @VarchasPatel
#PostOfficeScandal #PostOfficeInquiry #StateCoverUp #Redress #Bonusgate #MrBatesVsThePostOffice
An Ode to the 'GOOD LEAVER' 🔻🔻🔻🔻🔻
O, Nick Read, departing from your throne,
Where hubris reigned and empathy was unknown.
Your reign at Post Office, a sorry affair,
Marked by blunders, beyond all compare.
Your navel you gazed at, with self-satisfied glee,
While SubPostmasters suffered, for all to see.
Blind to their plight, their cries of despair,
Your focus remained, on your own welfare.
Management incompetence, your hallmark so grand,
A symphony of errors, conducted by your hand.
Horizon's failings, a tale often told,
Yet you turned a blind eye, as lives turned cold.
RemCo's governance, a farce in your sway,
Accountability vanished, like mist in the day.
Bonuses flowed freely, while justice was denied,
A stain on your legacy, forever to abide.
So farewell, Nick Read, your time is now done,
May your departure bring solace to everyone.
May your reign be remembered, as a cautionary tale,
Of leadership's dark side, where greed did prevail.
@PostOfficeNews @PostOffInquiry @PostOffice
#PostOfficeScandal #PostOfficeInquiry #StateCoverUp #Bonusgate Whilst the oldest victim of the Scandal, 91 year old Betty Brown, describes being treated “like dung” after receiving a “paltry” compensation offer of just 29 per cent of her claim for full Redress - we learn about more questionable Governance over 'Multipliers' for CEO Nick GREED's Bonuses from ex-Chair Henry Staunton's Witness Statement:
"Mr Read's pay demands - the ever-present issue of Executive remuneration was not only a problem in that it was an unhelpful distraction, but also because it shone a light on historical governance issues:
a)In my time as Chair, the business was dealing with controversy over a bonus scheme ("TIS") that rewarded executives for cooperating with the statutory Horizon Inquiry. The terms of that Bonus scheme had been formulated before my time at the Post Office, but unravelled during my time as chairman. It was evidently wrong that executives should be rewarded for complying with the statutory Inquiry, when of course they were obliged to do so anyway. I should say that in this matter, Mr Read was prepared to repay this element of his bonus and accepted this was the right course of action.
b) I had to deal with the issue of the disputed 2021/22 bonus for Mr Read that I refer to above.
We were in a position of asking for retrospective approval from the shareholder for a bonus that had already been paid out, when the business should have obtained the approval beforehand. I was left to pick up the pieces. The issue here was that a "multiplier" was applied to Mr Read's bonus to uplift the overall amount, but it was unclear whether that multiplier should have been applied to the whole or just that part of the bonus that related to personal objectives. The Shareholder felt, not unreasonably, that the unapproved element should be repaid. It was time-consuming for me to negotiate approval of the full bonus (which the Government was most unhappy to do) on joining the Post Office, but I felt I had to push for it for the reasons I explain above.
c) I know from discussions with the then Chair of the Remuneration Committee, Ms Harrington, that this was a Committee that was not functioning well when I joined the Post Office. Ms Harrington was deeply frustrated by the poor information flows and the payment of bonuses which were not approved and the constant demands for extra remuneration by the CEO. She was displeased with the lack of due process by management in relation to the "multiplier" issue described above. "
What were these unapproved Bonuses paid to the CEO that the Shareholder and Remco Chair were so unhappy about and should also have been repaid by Mr. Read ???
@liambyrnemp @CommonsBTC @jreynoldsMP @gareththomasMP @NAOorguk @darrenpjones @CommonsTreasury @HouseofCommons
#PostOfficeScandal #PostOfficeInquiry #StateCoverUp #Bonusgate
Looking at the list of failings identified by Postal Affairs Minister @kevinhollinrake should CEO Nick Read qualify for ANY Performance Bonuses (STIP/LTIP) for the 2023/24 Financial Year ❓❓❓
#PostOfficeScandal #PostOfficeInquiry #StateCoverUp #CEO #Bonusgate
The @PostOffice Annual Report & Accounts for 2023/2024 are due to be published this week.
Further to this assessment of Nick GREED as CEO by Minister Hollinrake it seems highly improbable as in previous years that he will be granted a Grade 5 (top score) for his performance in the 2023/24 Financial Year. @Jusmasel2015
#PostOfficeScandal #PostOfficeInquiry #Bonusgate
The Post Office Annual Report & Accounts for 2023/24 are due to be published this week. @Jusmasel2015 will be scrutinising to discover exactly what Bonuses Nick GREED has allegedly 'forfeited' as well as Al Cameron's exit package.
#PostOfficeScandal #PostOfficeInquiry #ARA #Bonusgate #BogusBonus #StateCoverUp
What will the @PostOffice Annual Report & Accounts
reveal about the CEO and CFO Remuneration .
How will their prompt payments contrast to victims like 91 year old Betty Brown who still await FULL Redress.
https://t.co/GOltRBdGoF
#PostOfficeScandal #PostOfficeInquiry #StateCoverUp #Bonusgate #BogusBonus #ARAThe Post Office Annual Report & Accounts are due to be published early next week.
LTIP Critical Measures of Success for CEO Nick GREED & Senior Executives include 'Technology Transformation' and 'Postmaster Promise'.
The incompetent mismanagement of the NBIT debacle wasting £Billions of Taxpayers money and the results of the YouGov Survey commissioned by the Inquiry dictate that at least 50% weighting is obsolete. 'Customer' and 'Colleague' Promise is opaque.
#PostOfficeScandal #PostOfficeInquiry #StateCoverUp #Bonusgate #BogusBonus #ARA
The Post Office Annual Report & Accounts are due to be published early next week.
A reminder of CEO Remuneration since 2012.
It will be interesting to see what Bonuses Nick GREED has allegedly forfeited following his resignation.
https://t.co/GOltRBdGoF
#PostOfficeScandal #PostOfficeInquiry #StateCoverUp #BonusGate #BogusBonus
5 Years as 'Tank Commander-in-Chief' in a nutshell !!
#PostOfficeScandal #PostOfficeInquiry
#Bonusgate #Christmas2024 'Tank' Commander Nick GREED has been busy recording his last Xmas Message to the troops before finally being relieved of his duties as CEO of @PostOffice. No BogusBonuses in Santa's sack for Nick this year - allegedly.🎄🎅
#PostOfficeScandal #PostOfficeInquiry #StateCoverUp #Bonusgate
Nick 'Tally-Ho" READ bizarrely reflects on his time as a TANK COMMANDER and references the 'Fog of War' ahead of announcing his resignation from the Post Office. @VarchasPatel @CWUPostmaster
@voiceofthePM @CastletonLee @nickwallis @Janetsk20073533 @pope2023 @ArmdCavRDG @TimBushLondon @Jusmasel2015 @tim_brentnall @Cyclefree2 @GouldsBlog @innermigration @PostOffice @PostOffInquiry
#PostOfficeScandal #Bonusgate @PostOffice 🔥CEO Nick READ who has been "obsessed" with his pay over 5 years at the helm, is set to lose out on bonuses worth more than £750,000 after abruptly 'stepping down' in September. 'Good Leaver Status' next 🤔 ?
https://t.co/pNJlCeslTZ
#PostOfficeScandal #PostOfficeInquiry #StateCoverUp #Bonusgate #NickGread #StateSponsoredCrime
The 'PRINCE OF AVARICE ' denies that his repeated grievances and complaints about remuneration become too significant a feature of his tenure and ability to fulfil his role as an accountable CEO.
More remarkably he still denies that he has ever threatened to resign despite threats such as....
"Am I prepared to make a drama out of this? Yes I am. I'm prepared to make a formal grievance. I'm prepared to make a claim for constructive dismissal"
He apportions blame on former Chair Henry Staunton and CPO Jane Davies effectively claiming they made false allegations against him. 🤔
However he selectively omitted reference to the fact that a total four letters were sent to HMG by in 2021 alone - way before either Mr Staunton or Ms. Davies were witnesses at the 'scene of the crime'.
These 4 letters in 2021 sought to win approval for a one-off Bonus of up to £86,600, and an increase of up to £89,225 to Read’s long-term bonus. Gread's salary was £415,000 at the time, close to three times the Prime Minister’s salary, plus a potential of £365,000 in bonuses.
One of the letters from then Chair Tim Parker stated “There is a pressing and immediate retention risk,” a similar letter, sent in September 2021, read: “Nick has indicated that he is receiving approaches from other organisations.”
Dictionary definition of THREAT - (Countable noun [oft NOUN to-infinitive]
'A threat is a statement by someone that they will do something unpleasant, especially if you do not do what they want.'
https://t.co/XIQPkIkKmu
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