Australia Post Boss forced out over 4 inexpensive Cartier watches

Oct 24, 2020,10:07 AM
 

October 22, 2020

Australia Post says it will fully cooperate with a high-level investigation into the decision to give four $3000 Cartier watches to senior staff as a reward for signing a huge deal to allow banking in post offices across the country.

Group CEO and managing director Christine Holgate will stand aside during the investigation, triggered after Prime Minister Scott Morrison was informed of evidence given at a Senate estimates hearing on Oct 22.

The chief financial officer of the government-owned business will act in the role during the investigation. “The Australia Post board and management team will fully cooperate with the recently announced investigation to be conducted by shareholder departments,” said chairman Lucio Di Bartolomeo. The investigation will be conducted by the federal communications and finance departments, supported by an external law firm, and take four weeks to complete.

“We remain committed to delivering for our important stakeholders – our people, our post office partners, our customers and the community.” 

Prime Minister Morrison said the gifts were "disgraceful and appalling". 

Senators spent almost four hours questioning Holgate and her senior colleagues during the hearing. “She’s been instructed to stand aside and if she doesn’t do that, she can go,” he told parliament. 

Union leaders slammed Australia Post’s leadership over the watches.

CPSU deputy national president Brooke Muscat said members had taken a pay freeze while working harder during the pandemic. “How are they rewarded? Not with a watch or a bonus I can tell you that,” she said.

The estimates hearing was told the total value of incentives was $97.4 million in the 2019/20 financial year. More than $60 million flowed to 2500 employees involved in the corporate incentive plan, ranging from senior staff to general managers. A further $21.6 million was “thank you” payments for frontline workers including posties, drivers and processors, while $5.6 million was spent on gift cards for contractors and licensees.

Australia Post’s people and culture executive general manager Susan Davies defended the incentive payments. “I’ve never seen the volume that’s come through. We’ve worked in extremely difficult circumstances.”

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TOTAL INCENTIVE PAYMENTS OF $97 million and they headline the 4 Cartier watches at $3k each? as part of a legit compensation plan?

Please hang your head in a moment of regret for the evil perpetrated by the mainstream Australia Press in allowing this story to be published!

Cazalea





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Comments: view entire thread

 

Quite seriously, I started reading the story in the hopes the investigation was into why the bonus is so LOW for senior staff signing a "huge deal" for the company... ;-)

 
 By: FabR : October 24th, 2020-12:02
This article from another local newspaper seems to give a less PC/more balanced perspective on the incident: www.heraldsun.com.au

🤣🤣🤣 [nt]

 
 By: templetowers : October 24th, 2020-12:39

Great one! ;-)) [nt]

 
 By: FabR : October 24th, 2020-16:09

Can't they somehow just blame this on the Chinese?!

 
 By: jim_94104 : October 25th, 2020-06:35
like everythjng else 🤣