Australia Post is to pay former CEO Christine Holgate $1million. The settlement follows mediation between the country’s postal service and its former boss after the high profile departure of the CEO last year.
The lump sum will be taxed as an employment termination payment. Australia Post also agreed to pay $100,000 of Holgate’s legal costs.
As part of the settlement, Holgate has released Australia Post from all legal claims and Australia Post is making the payment without any admission of liability.
When Holgate resigned last year after her decision to purchase Cartier watches as a bonus for sales staff who had signed a major deal was denounced in Federal Parliament, there was considerable support for her as CEO from the licensees association.
There are more than 2,850 licensees in the Australian Post’s Licensed Post Office network.
At the time, a letter from executive director of the Licensed Post Office Group Angela Cramp to members of the Senate Environment and Communications Legislation Committee, endorsed Holgate.
“Christine Holgate is a unique leader that has breathed life back into Australia Post, and has brought her experience and expertise to this business to provide Australia with a viable, fit for purpose postal service,” Cramp said. “She is dedicated, dynamic and determined that this business can grow.”
In a statement today from Australia Post and Christine Holgate, Australia Post acknowledges that it has lost an effective CEO following the events on the morning of 22 October 2020 and “regrets the difficult circumstances” surrounding the former CEO’s exit from the business.
The headline-making saga comes to an end with both parties wishing each other well in future endeavours and Australia Post thanking Holgate for her “contribution and strong leadership during her employment as CEO”.
In May this year, Inside Retail reported Holgate had taken up the position of global chief executive at Global Express.
