Royal Mail chairman to step down
Donald Brydon, Chairman of Royal Mail, has informed the Board of his intention to step down from his job role. He oversaw the controversial privatisation of the 500-year old British postal service.
The Senior Independent Director, Orna Ni-Chionna, has initiated a process to appoint his successor and Donald will continue to chair the Board until at least the AGM in the summer.
Donald was appointed Chairman in 2009. Since then, he has led the Board at a time of major change for Royal Mail, including its ongoing transformation and the Group’s flotation in October 2013.
Donald Brydon said: “I am proud of what Royal Mail has achieved as a company in the last six years. Our transformation is well underway and we are now a FTSE 100 listed company. I feel that now is the right time for me to make this decision.”
After joining the company in 2009 following a distinguished career with the likes of Barclays and AXA, Brydon was reappointed to the post of chairman in 2012, and paid £200,000 a year for working at least two days a week.
Last week, Royal Mail reported it had delivered 120 million parcels in December, a 4% rise on the previous year.
Moya Greene, Group Chief Executive, said: “Donald has played a key role as Chairman during one of the most eventful periods in our history. I would like to personally thank him for his support and counsel.”
Orna Ni-Chionna, Senior Independent Director, said: “Donald has made a very significant contribution to the direction of Royal Mail during his six years as Chairman. The Board offers its thanks and looks forward to working with him in the coming months.”
For more information, please visit: http://www.royalmailgroup.com/donald-brydon-step-down-chairman-royal-mail-plc-later-year#sthash.vexwZrWY.dpuf
Uber Freight to Acquire Transplace in $2.2bn Deal
Uber Freight is to acquire logistics technology and solutions provider Transplace in a deal worth $2.25bn.
The company will pay up to $750m in common stock and the remainder in cash to TPG Capital, Transplace’s private equity owner, pending regulatory approval and closing conditions.
“This is a significant step forward, not just for Uber Freight but for the entire logistics ecosystem,” said Lior Ron, Head of Uber Freight, and former founder of the Uber-owned trucking start-up Otto.
Uber’s Big Play for Supply Chain
Transplace is one of the world's largest managed transportation and logistics networks, with 62,000 unique users on its platform and $11bn in freight under management. It offers truck brokerage and other capacity solutions, end-to-end visibility on cross border shipments, and a suite of digital solutions and consultancy services.
The purchase is the latest move by parent company Uber, which launched as a San Francisco cab-hailing app in 2011, to diversify its offering and create new revenue streams in all transport segments.
Transplace said the takeover comes amid a period of “accelerated transformation in logistics”, where globalisation, shipping and transport disruption, and widespread volatility are colliding.
Uber Freight plans to integrate the Transplace network into its own platform, which connects shippers and carriers in a dashboard that mirroring the intuitive experience found in its consumer vehicle booking and food ordering services.
“This is an opportunity to bring together complementary best-in-class technology solutions and operational excellence from two premier companies to create an industry-first shipper-to-carrier platform that will transform shippers’ entire supply chains, delivering operational resilience and reducing costs at a time when it matters most,” said Ron.
Frank McGuigan, CEO of Transplace, said the resulting merger will offer enhanced efficiency and transparency for shippers, and benefits of scale for carriers. “All in all, we expect to significantly reduce shipper and carrier empty miles to the benefit of highway and road infrastructures and the environment,” he added.
History of Uber Freight
Uber Freight was established in 2017 and separated into its own business unit the following year. In 2019 the company had expanded across the entire continental US, established a headquarters in Chicago. Later that year it launched its first international division in Europe, initially from a regional foothold in the Nertherlands, and later moving into Germany.
The logistics spinoff attracted a $500m investment from New York-based Greenbriar Equity Group in October 2020, and launched a new shipping platform for companies of all sizes in May, partly in response to a driver shortage in Canada.