Holgate named Australia Post MD and Group CEO


New chief executive to take over Fahour’s role but on a much lower pay scale

Holgate named Australia Post MD and Group CEO
Christine Holgate

 

The current CEO of health firm Blackmores, Christine Holgate, has been picked to replace Ahmed Fahour as Australia Post’s next MD and Group CEO.

Holgate's salary has been set at $1.375 million fixed annual total, with a potential to receive incentive payments of up to $1.375 million, in accordance with the parameters set by the Commonwealth Remuneration Tribunal.

It comes after a massive public outcry over her predecessor Fahour’s $5.6 million pay package before he decided to step down from his position.

Holgate will take over the new role in October, the Board of Australia Post announced today.

Australia Post Group chief customer officer Christine Corbett will lead the business through the CEO transition period – between Fahour's departure on July 28 and Holgate's arrival in "mid-to-late" October.

Chairman John Stanhope says Holgate’s appointment follows a thorough global search to find a candidate who could lead the business through the next phase of transformation. 

"Over the past seven years, we have transformed Australia Post into Australia's leading parcels and e-commerce company and introduced critical reforms to the letters service," Stanhope says.

"With Post now entering a new stage in our transformation, it's the perfect time for Christine to take the helm.

"Christine has a demonstrated track-record of delivering results in large, complex organisations, both here in Australia and internationally.

"The board was impressed by her experience of working very successfully in a range of different industries that are highly regulated.

"And, on top of that, she has a proven ability to implement strategy – and successfully grow a business in Asia.

"Her knowledge of global e-commerce will be invaluable as we pursue our Asian strategy, which is all about offering logistics support to Australian businesses that are either selling in Asia, or sourcing their products there.

"Christine's business philosophy is also a perfect fit for Australia Post. She is a firm believer that businesses must perform commercially, but also serve the community.

"And that's entirely consistent with our objectives as a community-based business that has both commercial objectives and community service standards to uphold."

Holgate says she feels privileged to be appointed chief executive of an iconic Australian corporation and looks forward to building on the achievements of her predecessors.

"Australia Post has proven itself to be one of the most resilient and successful postal businesses anywhere in the world," Holgate says.

"I feel fortunate to be joining at a time when we can really strengthen Post's leading position in the eCommerce market – both here, in Australia, and in Asia.

"I'm a passionate advocate for Australian business seizing the opportunity that's on our doorstep in Asia and that creates opportunities for everyone – our workforce, our shareholder, the community, as well as businesses across Australia. 

"I'm really looking forward to joining the team.

"And I'm especially looking forward to getting out and meeting the posties, the drivers, post office staff, licensees and other partners who deliver services in communities across Australia, every day."

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