Australia Post CEO Christine Holgate has resigned amid an investigation into her corporate spending, the most infamous of which was the purchase of four Cartier watches for $20,000.
In a statement, Ms Holgate said she was saddened to leave the business, noting the investigation as a "significant distraction" prior to what is forecast to be Australia Post's biggest Christmas in history.
"I have offered today the Chairman and board of Australia Post, with great sadness, my resignation as Chief Executive with immediate effect. I am not seeking any financial compensation," Ms Holgate said.
READ MORE: Australia Post CEO's lawyers claim 'no reason' she should stand down
"As Christmas approaches it is critically important that Australia Post is absolutely focused on supporting our customers and communities.
"The current issue I am managing is a significant distraction and I do not believe it is good for either Australia Post or my own personal well being.
"Consequently, I have made the difficult decision to resign, hoping it will allow the organisation to fully focus on serving our customers."
READ MORE: True cost of AusPost watches revealed
Ms Holgate stepped aside from her position in late October, after a Senate Estimates hearing uncovered that the organisation bought four watches to "reward" senior executives.
The news spread rapidly, prompting Prime Minister Scott Morrison to order an immediate investigation into Australia Post's expenditure and for Ms Holgate to step aside while it was conducted.
During a fiery Parliamentary question time, Mr Morrison said Ms Holgate can leave the organisation if she disagrees with an inquiry into corporate spending.
READ MORE: Australia Post CEO stands aside amid probe into $12,000 Cartier watch gifts
"So appalled and shocked was I by that behaviour... as any shareholder would in a company raise their outrage if they had seen that conduct by a chief executive," Mr Morrison said.
"We are the shareholders of Australia Post on behalf of the Australian people … she has been instructed to stand aside, if she doesn't wish to do that, she can go."
Ms Holgate ends her tenure as chief of Australia Post after three years.
from 9News https://ift.tt/382Onms
via IFTTT
0 Comments