Deepak Chopra, president and CEO of Canada Post, advised the board of directors yesterday of his intent to step down from his role on March 31, 2018.
Chopra joined the Corporation in 2011 as it was facing the challenge of responding to the dramatic decline in mail volumes with a legacy cost structure built for the pre-digital economy.
During Mr. Chopra’s tenure, Canada Post:
- Pivoted to become the leader in e-commerce delivery. By focusing on innovation and customer service, the Corporation has helped countless Canadian businesses to succeed in the digital economy. Since 2011, parcel revenues have grown by over $500M, making Canada Post the country’s #1 parcel company.
- Implemented significant structural changes to preserve the postal service. Improved productivity, more efficient delivery methods and tiered pricing are delivering annual savings of over $400M.
- Reported a profit in 14 of the last 15 quarters. The positive financial performance occurred while mail volumes continued to decline. In 2016, the Corporation delivered 2 billion fewer pieces of mail than at its peak in 2006.
- Over the last 18 months, Mr. Chopra has also worked to ensure those leading the government’s review of Canada Post have the detailed information necessary to make informed decisions. Their important work will determine the next phase of Canada Post’s future.
Chopra gave the board early notice to provide the time necessary to conduct a search for his replacement and ensure an orderly transition while maintaining momentum at the Crown corporation.