Industry News

AusPost agrees to pay Holgate $1M

Former Australia Post CEO Christine Holgate will receive an employment termination payment of $1 million.

The announcement follows mediation between Holgate and Australia Post on Friday 23 July before the Hon. Peter Jacobson QC, a former Justice of the Federal Court of Australia.

Both parties reached a settlement with Australia Post agreeing to pay $1,000,000 to Holgate to be taxed as an employment termination payment.

Australia Post also has agreed to pay $100,000 of Holgate’s legal costs.

To finalise the matter so that both parties can move on, Holgate has released Australia Post from all legal claims and Australia Post is making the payment without any admission of liability.

In a statement issued today Australia Post acknowledged that it has lost an effective CEO following the events on the morning of 22 October 2020.

“Australia Post regrets the difficult circumstances surrounding Holgate’s departure from her role as CEO,” said the statement.

“Australia Post recognises and thanks Ms Holgate for her outstanding contribution and strong leadership during her employment as CEO of Australia Post.

“Australia Post wishes Ms Holgate the best in her future endeavours.”

Holgate has since been appointed Chief Executive Operator of Global Express, following Toll’s divestment of the division to Allegro Group announced back in May.

She was forced to resign as Australia Post CEO late last year after it was revealed that she had given four staff members luxury Cartier watches two years prior as a bonus for securing a lucrative deal.

In April Australia Post named former Chief Supply Chain Officer at Woolworths Group, Paul Graham as Holgate’s replacement.

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