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.

“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.”