Final Word from Monday, May 15, 2023

Outgoing CEO Frank Appel of Deutsche Post told Frankfurter Allgemeine Zeitung that he wanted to step down last year but put it off because he thought it would be unfair to turn the company over to his successor after having a record year in 2021. But then last year was even better, he said, so he ended up leaving his successor with the very situation he was trying to avoid. There's no risk of anything like that at Česká pošta, unless the issue is whether to saddle a successor with the biggest loss possible. Ex-CEO Roman Knap managed to nearly triple the red ink last year to Kč 1.7bn, but he still walked away with Kč 4.9m. His successor, Miroslav Štěpán, is dealing with the situation by raising postage rates yet again as of July 1. The cheapest letter will now cost Kč 27. At today's exchange rate, that's €1.14, while the cheapest rate for sending a letter by Deutsche Post to the CR is just €1.10. Czech shoppers looking for cheaper food over the border will soon be able to save on posting their letters too. [ Czech Republic FAZ postal ]

Glossary of difficult words

to saddle with - to burden (someone) with an onerous responsibility or task.


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