Rico Back

Rico Back (born 1954) is a German businessman, and was the CEO at Royal Mail from June 2018 to May 2020.

Rico Back
Born1954 (age 65–66)
Hamburg, Germany
NationalityGerman
OccupationBusinessman
TitleFormer CEO, Royal Mail
TermJune 2018 – May 2020
PredecessorMoya Greene
SuccessorKeith Williams
Spouse(s)Married
Children4

Early life

Rico Back was born in 1954 in Hamburg, Germany.[1]

Career

In 1989, Back was a founding member and managing director[2] of German Parcel, bought in 1999 by Royal Mail and subsequently rebranded as GLS.[3]

As of 2018, Back was head of Royal Mail's European subsidiary General Logistics Systems (GLS).[3][4] He succeeded Moya Greene as CEO when she retired in June 2018, and received the same £790,000 pay and benefits package - plus a possible £1.3 million bonus (and a £6 million golden hello) - and was announced as paying UK tax.[3]

On 15 May 2020, Back resigned as CEO of Royal Mail with immediate effect, and Keith Williams, the chairman, replaced him as interim CEO.[5] His departure came as Royal Mail experienced a rise in parcel volumes and a downturn in letter volumes, during the COVID-19 pandemic. The company's revenues in April 2020 had fallen by £22 million compared to revenues in April 2019.[6]

Personal life

As of 2018, Back and his family live in an apartment overlooking Lake Zurich[7], Switzerland, where they have been resident for more than ten years and where he is legally domiciled.[8]

References
  1. "Login - DVZ". www.dvz.de. Retrieved 4 June 2018.
  2. 2002-2018, PresseBox (c) (30 September 2014). "Gründer feiern mit GLS Germany". www.pressebox.de. Retrieved 4 June 2018.CS1 maint: numeric names: authors list (link)
  3. Topham, Gwyn (20 April 2018). "Moya Greene to step down as Royal Mail's chief executive". the Guardian. Retrieved 23 April 2018.
  4. "Executive Profile: Rico Back". Bloomberg LP. Retrieved 23 April 2018.
  5. Bow, Michael (15 May 2020). "Royal Mail chief executive Rico Back in shock exit from postal giant". Evening Standard. Retrieved 15 May 2020.
  6. "Coronavirus: Royal Mail boss Rico Back in surprise exit". BBC News. 15 May 2020. Retrieved 15 May 2020.
  7. Collingridge, John. "Will a strike cancel Christmas for Royal Mail's boss, Rico Back?".
  8. "MOYA GREENE TO RETIRE FROM ROYAL MAIL GROUP IN SEPTEMBER 2018. RICO BACK WILL BE SUCCESSOR". www.royalmailgroup.com. Retrieved 23 April 2018.
Business positions
Preceded by
Moya Greene		 CEO of Royal Mail
2018–2020		 Succeeded by
Keith Williams (Interim)
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