Mr Staunton was forced out after only 13 months during a phone call with Business Secretary Kemi Badenoch yesterday afternoon.
He joined state-owned Post Office Limited in December 2022, after nine years as chairman of WHSmith.
Last night, Ms Badenoch said: “The Post Office is rightfully under a heightened level of scrutiny at this time. I felt there was a need for new leadership, and we have parted ways with mutual consent.”
A Government spokesman said: “An interim will be appointed shortly and a recruitment process for a new chair will be launched in due course, in accordance with the Governance Code for Public Appointments.”
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