British postal group, owner of Royal Mail since 2013 reforms; now under EP Group ownership
IDS has disclosed a sharp rise in chief executive Martin Seidenberg’s pay for the year to 31 March, tied to a £3.6bn takeover by Daniel Kretinsky’s EP Group. While executive remuneration surged, IDS reported falling group profits and weaker performance at its GLS parcel arm amid regulatory and market pressures. The group is pushing universal service changes in the UK as Ofcom investigates delivery targets.
Royal Mail has reported improved delivery performance in the first quarter, with 85% of first-class mail delivered next day and 91.4% of second-class mail delivered within three days. Ofcom targets remain unmet, and the company has pledged to meet these benchmarks by May 2027 as part of a £500 million five-year turnaround plan. Regulators have fined the group before, and investigations continue into ongoing delays and backstop targets.