Allegro swoops on Holgate to lead Toll Global Express


Former Australia Post boss entrusted with business transformation

Allegro swoops on Holgate to lead Toll Global Express
Christine Holgate

 

New Toll Global Express owner Allegro Funds has scored a major coup, snapping up former Australia Post chief Christine Holgate to lead the new entity.

Holgate will be tasked with heading a transformation strategy for the parcels and logistics organisation upon the private equity firm completing its acquisition from previous owner, Japan Post (JP).

In a press release, the business is referred to simply as ‘Global Express’.

"I am honoured to be joining the Global Express team," Holgate says.

"I believe strongly in the potential of the business and have great respect for both the employees of Global Express and Allegro."

Last month, Allegro Funds announced it would acquire Toll Global Express from Japan Post (JP) and commit funding of $500 million to support the company’s long-term growth.

JP puts the sale price as A$7.8 million.

"In recent times Global Express has faced challenges and there is lots of hard work ahead of us," Holgate says.

"However, the combination of new funding, a focused local leadership team, a strong position in growing markets and the turnaround expertise of Allegro, will ensure the business is successful.

"As the world emerges from Covid, it is critical that we build more resilience in our logistics networks across Australia and New Zealand.

"Ecommerce in Australia still trails comparable countries at around 15 per cent of sales.

"The retail sector’s future success will depend greatly on Global Express providing the competitive delivery service necessary to underpin expansion."


How Allegro won the battle for Toll Global Express, here


Adrian Loader, the founding partner of Allegro Funds who will also chair the new company, says the strong funding commitment and ability to recruit and retain talent was evidence of Allegro’s long-term commitment to the business. 

"With enviable assets, funding of $500 million obtained and now an industry-leading CEO announced, Global Express is putting in place all the ingredients required for long-term success," he says.

"We are pleased to have built a close and collaborative relationship with Toll Group as we work towards completing the transaction.

"After completion, we will work hard to build an equally productive relationship with our suppliers, landlords and other business partners." 

Holgate says the multi-year transformation program would begin by listening to the organisation’s stakeholders.

She has committed to a 100-day program of meetings with customers, business partners and employees in all the company’s main markets after she assumes the role.

"The company’s customers, employees and business partners have all been very loyal to Global Express, so our transformation plan must begin by listening and acting on their insights," she says.

"I understand how much they all depend on Global Express, and that our success in the future will help drive theirs."

Toll Global Express employs more than 8,000 people in Australia and New Zealand and generates over A$3 billion in revenue, the company notes.

In the weeks until completion, Allegro will focus on satisfying the remaining sale conditions, after which Toll Global Express will cease being a division of Toll Holdings.

 

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