Royal Mail FD Cassoni departs

Marisa Cassoni confirmed this morning that she would be stepping down from
her position as Royal Mail’s group finance director in December.

Cassoni, who had been with Royal Mail for four years, leaves just months
before regulator Postcomm opens the market up to full competition in January
2006.The group confirmed that the hunt for a replacement had begun.

A former FD of Britannic Assurance and a Deloitte accountant, Cassoni played
an important role in turning around the fortunes of Royal Mail, which has gone
from £1m-a-day losses daily profits of £2m over the last three years.

In a statement Royal Mail chairman Allan Leighton said: ‘When I first
arrived, Marisa was the only executive who had experience of turnaround and she
has played a valuable part in sorting out both the finance of the Royal Mail and
in creating a platform of financial control for us to move forward on.’

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