The company said its board was in "advanced stages" of appointing a new chief, and that Thompson has agreed to remain with the business until October end, but did not give other details.

Thompson, 56, has been CEO of the postal company since 2021.

He joined the IDS board as a non-executive director in late 2017, after various stints in HSBC, Honda, Apple, Motorola and Ocado Group, the British online supermarket group.

(Reporting by Eva Mathews in Bengaluru; Editing by Nivedita Bhattacharjee)