Rico Back

Rico Back was born in 1954 in Hamburg, Germany.{{cite web|url=https://www.dvz.de/rubriken/menschen/detail/news/steigt-rico-back-auf.html|title=Login - DVZ|website=www.dvz.de|accessdate=4 June 2018}}

In 1989, Back was a founding member and managing director of German Parcel, a European-wide parcel logistics firm. In 1999 Back led the sale of German Parcel to Royal Mail, subsequently rebranded as GLS.{{Cite web|date=2018-04-20|title=Who is Rico Back, the incoming Royal Mail CEO?|url=https://tamebay.com/2018/04/rico-back-incoming-royal-mail-ceo.html|access-date=2020-08-26|website=Tamebay|language=en-GB}} The company is now one of the largest ground-based deferred parcel networks in Europe.{{Cite web|last=Gordona|first=Michael|date=2018-09-03|title=Royal Mail buys Canadian company for £213 million|url=https://www.investortimes.co.uk/royal-mail-buys-dicom-canada/|access-date=2020-08-26|website=Investor Times|language=en-GB}} Its revenues grew from £1 billion in 2002 to £3.161 billion in 2020. It contributed 64% of Royal Mail Group's adjusted operating profit from 29% of group revenues. In 2020, the division was worth an estimated £2.3 billion based on an operating profit of £208 million.{{Cite web |date=2020 |title=Royal Mail Annual Report and Financial Statements 2019-20 |url=https://www.annualreports.com/HostedData/AnnualReportArchive/R/LSE_RMG_2020.pdf |url-status= |access-date=2025-04-30 |website=Royal Mail PLC - AnnualReports.com}}

Back was the CEO of GLS for 18 years before taking over as Royal Mail Group CEO in 2018.{{Cite web|date=2018-04-20|title=Rico Back to head Royal Mail|url=https://www.logisticsmanager.com/rico-back-head-royal-mail/|access-date=2020-08-31|website=Logistics Manager|language=en-GB}} As CEO of Royal Mail Parcels (2016 to 2018), Back was responsible for all international activities as well as the national parcel business.{{Cite web |last=Dawson |first=Chris |date=2018-04-20 |title=Who is Rico Back, the incoming Royal Mail CEO? |url=https://channelx.world/2018/04/rico-back-incoming-royal-mail-ceo/ |access-date=2025-04-30 |website=ChannelX |language=en-GB}} He succeeded Moya Greene as Royal Mail Group CEO when she retired in June 2018. He received the same £790,000 pay and benefits package as Greene, plus a possible £1.3 million bonus and a £6 million golden hello; his personal taxes were paid in and to the UK.{{cite web|last=Topham|first=Gwyn|date=20 April 2018|title=Moya Greene to step down as Royal Mail's chief executive|url=https://www.theguardian.com/business/2018/apr/20/royal-mail-moya-greene-to-step-down-as-chief-executive-rico-back|accessdate=23 April 2018|website=the Guardian}}

During his tenure, UK parcel volume growth reached a four-year peak in 2018 and Royal Mail's share of the UK parcel market grew to 53% by volume by March 2018, driven by winning business from online retailers.{{Cite web|last=|first=|date=2017|title=Royal Mail plc Annual Report and Financial Statements 2017-18|url=https://www.royalmailgroup.com/media/10169/royal-mail-group-annual-report-and-accounts-2017-18.pdf|access-date=|website=}} In its 2019 full-year results, a year into Back's tenure as CEO, Royal Mail announced a five-year turnaround plan focused on expanding the company's parcels business internationally, addressing the growth in online deliveries. As part of the plan, Royal Mail pledged to invest a further £1.8 billion in its UK postal service.{{Cite news|last=Hussain|first=Shashwat Awasthi, Noor Zainab|date=2019-05-22|title=Royal Mail puts parcels at heart of growth plan|language=en|work=Reuters|url=https://uk.reuters.com/article/uk-royal-mail-results-idUKKCN1SS0IG|archive-url=https://web.archive.org/web/20190522075359/https://uk.reuters.com/article/uk-royal-mail-results-idUKKCN1SS0IG|url-status=dead|archive-date=May 22, 2019|access-date=2020-09-07}}

On 15 May 2020, Back resigned as CEO of Royal Mail Group, with Keith Williams taking immediate control before being replaced as interim CEO by Stuart Simpson.{{Cite web|last=Gordona|first=Michael|date=2018-09-03|title=Royal Mail buys Canadian company for £213 million|url=https://www.investortimes.co.uk/royal-mail-buys-dicom-canada/|access-date=2020-08-31|website=Investor Times|language=en-GB}}{{cite news|last1=Bow|first1=Michael|date=15 May 2020|title=Royal Mail chief executive Rico Back in shock exit from postal giant|work=Evening Standard|url=https://www.standard.co.uk/business/royal-mail-chief-executive-rico-back-in-shock-exit-from-postal-giant-a4441306.html|accessdate=15 May 2020}} His departure came as Royal Mail experienced a rise in parcel volumes and a downturn in letter volumes during the COVID-19 pandemic. The company's revenues annual revenues in April 2020 had fallen by £22 million against the previous year.

In 2020, Back founded SKR AG, a consultancy firm based in Switzerland that specialises in strategic management consulting for investors, executives, and companies. SKR AG operates internationally.{{Cite web |date=2022-06-07 |title=Login - DVZ |url=https://www.dvz.de/login.html?redirect_url=https%3A%2F%2Fwww.dvz.de%2Fpersonalien%2Fdetail%2Fnews%2Fskr-rico-back-holt-sich-verstaerkung.html |access-date=2025-04-30 |website=www.dvz.de}}

That same year, he also established Back Enterprises AG. In 2024, Back Asset Management AG and Back Beteiligungs AG were added. These companies are involved in investments in domestic and foreign companies, as well as providing advisory services to businesses.{{Cite web |date=2020-09-25 |title=Back Enterprises AG |url=https://www.zefix.ch/en/search/entity/list/firm/1453501 |url-status=live |access-date=2025-04-30 |website=zefix.ch}}{{Cite web |date=2024-05-16 |title=Back Asset Management AG |url=https://www.zefix.ch/en/search/entity/list/firm/1639872 |url-status=live |access-date=2025-04-30 |website=zefix.ch}}{{Cite web |date=2024-05-16 |title=Back Beteiligungs AG |url=https://www.zefix.ch/en/search/entity/list/firm/1639873 |url-status=live |access-date=2025-04-30 |website=zefix.ch}}

Back and his family live in an apartment overlooking Lake Zurich,{{Cite news | url=https://www.thetimes.com/business-money/companies/article/will-a-strike-cancel-christmas-for-royal-mails-boss-rico-back-hpmm6k7gf |title = Will a strike cancel Christmas for Royal Mail's boss, Rico Back?|last1 = Collingridge|first1 = John}} Switzerland, where they have been resident since 2007 and where he is legally domiciled.{{cite web|url=https://www.royalmailgroup.com/moya-greene-retire-royal-mail-group-september-2018-rico-back-will-be-successor|title=MOYA GREENE TO RETIRE FROM ROYAL MAIL GROUP IN SEPTEMBER 2018. RICO BACK WILL BE SUCCESSOR.|author=|date=|website=www.royalmailgroup.com|accessdate=23 April 2018}}

{{Reflist}}

{{s-start}}

{{s-bus}}

{{s-bef|before=Moya Greene}}

{{s-ttl|title=CEO of Royal Mail|years=2018–2020}}

{{s-aft|after=Keith Williams (Interim)}}

{{s-end}}

{{Authority control}}

{{DEFAULTSORT:Back, Rico}}

Category:Living people

Category:German chief executives

Category:1954 births

Category:Royal Mail people

{{Germany-business-bio-stub}}