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Australia Post CEO Christine Holgate Resigns Over $20,000 Cartier Watch Scandal

Australia Post CEO Christine Holgate Resigns Over $20,000 Cartier Watch Scandal

The boss recognised that the luxury timepieces didn't pass the 'pub test'.

Stewart Perrie

Stewart Perrie

The boss of Australia Post has resigned over a watch scandal that saw thousands of dollars' worth of Cartier watches given to several executives.

Christine Holgate was urged to stand aside after admitting that four luxury time pieces were given to the staff members for their hard work on a campaign. The total cost of the watches was nearly $20,000.

In a lengthy statement, the boss has revealed she has decided to resign and will make herself available for the investigation into the incident.

"I have offered today the Chairman and Board of Australia, with great sadness, my resignation as Chief executive with immediate effect,'' she said. "As Christmas approaches, it is critically important that Australia Post is absolutely focussed on supporting our customers and communities.

"I firmly believe that the 'ship' needs a strong captain at the helm to help navigate through this time. The current issue I am managing is a significant distraction and I do not believe it is good for either Australia Post or my personal wellbeing.

"Consequently, I have made the difficult decision to resign, hoping it will allow the organisation to fully focus on serving our customers."

While she defended giving the employees the watches, Ms Holgate admitted that the gifts didn't pass 'the pub test' and understood why so many Australians would be annoyed at such an expense.

She added: "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.

"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."

Featured Image Credit: Australia Post

Topics: News, Australia