The Post Office has announced that chief executive Nick Read will step down from the role in March 2025.
It comes amid a time of intense public scrutiny over the state-owned institution in the wake of the Horizon IT scandal.
Read, who took over from Paul Vennels in 2019, temporarily stepped down in July to focus on upcoming hearings regarding the scandal in which over 700 sub-postmasters were wrongfully prosecuted between 1999 and 2015 due to the faulty Horizon accounting software.
Vennells has faced accusations that she was involved in a plot to cover up the scandal.
Though not directly involved in the scandal, Read faced criticism for receiving bonus payments linked to work related to carrying out what have now been determined as miscarriages of justice in prosecuting wrongly convicted sub-postmasters.
He partially returned these bonuses and apologised for “procedural and governance mistakes” regarding the bonuses.
“It has been a great privilege to work with colleagues and Postmasters during the past five years in what has been an extraordinarily challenging time for the business and for Postmasters,’ said Read
“There remains much to be done for this great UK institution but the journey to reset the relationship with Postmasters is well underway and our work to support justice and redress for Postmasters will continue.”