2 August 2013 Last updated at 10:25 ET
Royal Mail is due to be privatised
Royal Mail chief executive Moya Greene received pay and benefits worth £1.47m last financial year, the group's annual report has revealed.
Ms Greene's basic salary was unchanged at £498,000, but other benefits increased, meaning her total package went up from £1.1m in 2011-12.
However, she has agreed to return £120,000 paid towards the cost of buying a house after Business Secretary Vince Cable objected to the payment.
Mr Cable said it had been a mistake.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23549554#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
