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The finance boss of the Post Office will continue to receive most of his salary for years to come despite stepping down after more than a year of sick leave amid the Horizon IT scandal.
The Telegraph has learned that Alisdair Cameron is expected by colleagues to receive the majority of his salary until he reaches retirement age, under a “medical retirement” package agreed by the Post Office.
The latest available accounts show Mr Cameron, 59, was paid a £316,000 salary and a further £85,000 in bonus payments in the year to March 2023.
If he receives two thirds of salary until he reaches 65 it would amount to more than £1.2m. The Post Office, which is state-owned, and solicitors for Mr Cameron declined to comment on the details of his agreement.
Mr Cameron took over as chief financial officer of the Post Office in 2015 and served under former boss Paula Vennells before she was replaced by Nick Read in 2019. He previously held senior roles at British Gas.
However, Mr Cameron has been on medical leave since last May and has not attended any board meetings since then.
The company last week announced that Preetha McCann, former finance director at Selfridges, will take up the role of interim chief financial officer following his departure.
Mr Cameron’s absence from the Post Office came amid claims he had clashed with chief executive Nick Read.
The Telegraph revealed earlier this year that the two executives had fallen out, with one source blaming a “clash of personalities”.
The source said Mr Read “couldn’t stand working with Mr Cameron” and had asked the Government to authorise a pay-off for the finance chief, but this request was declined.
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