Money

Australia Post agrees to pay former CEO $1m

Published

3 years ago

August 4, 2021

Costa Haritos

Australia Post has agreed to a $1 million termination payment for Christine Holgate

The former CEO will also receive $100,000 to cover legal costs.

Australia Post says the matter is finalised “so that both parties can move on”. But the payment comes without any admission of liability.

It means Holgate now releases her former employer from all legal claims.

Australia Post says it acknowledges that it has lost an effective CEO following a scandal, where senior executives were given Cartier watches as bonuses.

Australia Post and Ms Holgate participated in a mediation on Friday 23 July 2021 before the Hon. Peter Jacobson QC, a former Justice of the Federal Court of Australia.

The parties have reached a settlement and Australia Post has agreed to pay $1,000,000 to Ms Holgate to be taxed as an employment termination payment.

“To finalise the matter so that both parties can move on, Ms Holgate has released Australia Post from all legal claims and Australia Post is making the payment without any admission of liability,
Australia post said in a statement

“Australia Post acknowledges that it has lost an effective CEO following the events on the morning of 22 October 2020,

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

Australia Post said they wish “Ms Holgate the best in her future endeavours.”

“Ms Holgate wishes the employees, partners and licensees of Australia Post her best wishes as they strive every day to provide a vital and affordable service to all Australians no matter where they reside.”

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Costa Haritos

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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