Royal Mail CEO Moya Greene is rumoured to be preparing to step down, with the head of the business's GLS division tipped to fill her shoes.

Greene has been the CEO of the delivery giant for eight years, during which time she has overseen the privatisation of the business and the forging of a new pay and pensions deal after a long battle with the union CWU.

In recent months Greene has become a director at Easyjet and mining company Rio Tinto.


Moya Greene is expected to step away from Royal Mail before its full-year results are announced next month

Sky News reported today that Greene is expected to depart ahead of Royal Mail's full-year results being released on 17 May, and suggested GLS MD Rico Back will step in.

German Back was appointed CEO of GLS in 1999, and was previously a founding manager of German Parcel, which Royal Mail bought in the same year.

GLS, Royal Mail's European parcel division, has been going from strength to strength in recent years, with growth figures fuelled by numerous acquisitions.

For the nine months ended 24 December 2017, the division saw its volume and turnover grow by 10% in the period, against a group revenue increase of just 2%.

Royal Mail's UKPIL arm saw a 5% drop in its addressed letter volumes, which it described as "gentler than expected", and 6% growth in UKPIL parcel volumes.