Christine Holgate has resigned as the CEO of Australia Post. This comes as the federal government plan to investigate the bonuses she gave employees, consisting of Cartier watches.
“I have offered today the Chairman and Board of Australia Post, with great sadness, my resignation as Chief Executive with immediate effect,” Holgate said in a statement. “I am not seeking any financial compensation.”
Holgate cited that the Cartier watches were a ‘distraction’ for Australia Post as they enter the Christmas period. “As Christmas approaches, it is critically important that Australia Post is absolutely focussed on supporting our customers and communities,” she said.
Holgate explained that Australia Post has “prepared significantly for [the] peak”, but still faces ‘significant challenges’ during the holiday season. “Keeping our people safe, managing the biggest e-commerce Christmas ever and planning in the face of unpredictable seasonal weather,” she said.
“I do not believe it is good for either Australia Post or my own personal wellbeing. Consequently, I have made the difficult decision to resign, hoping it will allow the organisation to fully focus on serving our customers.
“I deeply regret that a decision made two years ago, which was supported by the Chair, to recognise the outstanding work of four employees has caused so much debate and distraction and I appreciate the optics of the gifts involved do not pass the “pub test” for many,” Holgate continued.
“I still believe firmly that the people who achieved the Bank@Post outcome for Australia Post deserved recognition, their work secured a $220m investment over the following years, which dramatically improved the financial performance of the company, protected a critical community service which more than 50 per cent of the communities in Australia depend on and made our Community Post Offices sustainable for the long term.”
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