Post Office Limited (POL) is the company that manages and runs the UK’s network of 11,600 post offices. It is a commercial business operating in competitive markets and the network provides access to a range of services including mails, financial, government and telephony.
UKGI oversees government’s 100% shareholding in Post Office on behalf of BEIS, which involves a range of activities. UKGI holds a seat on the POL Board and Audit and Risk Committee, and oversees and participates in corporate governance activities such as the approval of the business’s longer term strategy, executive and non-executive recruitment, and director remuneration. The shareholder team monitors financial and operational performance of the business against that long term strategy, holding the business to account in delivering against its commercial and policy objectives. UKGI are also responsible for ensuring the business is provided with sufficient investment and subsidy funding to achieve its target of being commercially sustainable in the longer term, whilst meeting its social obligations, particularly around minimum network coverages requirements. Finally, UKGI advises ministers on both commercial and policy issues, supporting them in Parliament and with the wider set of stakeholders who have an interest in Post Office matters.