Australia Post MD and CEO Christine Holgate has resigned from her post effective immediately. This follows her suspension pending an investigation into why and how the postal operator spent close to AU $20,000 on Cartier watches for senior managers.

Australia Post Chair Lucio Di Bartolomeo said: “Ms Holgate has indicated her willingness to participate in the recently announced Shareholder Departments investigation into aspects of Australia Post expenditure.

“The Board and management are providing full cooperation and assistance to this Review.

“Christine Holgate has held the role of Group Chief Executive Officer and Managing Director since October 2017 and while noting the current Review, I would like to acknowledge and recognise the significant contributions she has made during her tenure.

“The Acting Group Chief Executive Officer and Managing Director Rodney Boys leads a strong, experienced, executive leadership team.

“We thank all of our workforce for their ongoing commitment and all our customers for their support.

“During the last three years, Australia Post has reported significant growth as it continued to innovate and transform its operations and structures to best deliver for Australian communities and customers.

“This has been one of the toughest years in Australia Post’s history and the Board acknowledges the extraordinary efforts made across the organisation to meet the challenges of COVID-19.

“Australia Post has always been there for Australian communities and this year, it delivered more parcels than ever before – 400 million, to more than 12.3 million delivery points across the country. Australia Post invested more than $20 million in keeping 75,000 of our workforce safe and supported our post office network with 99.6% remaining open and serving the community throughout this time.

“The Board is acutely aware of the challenge of the Christmas peak period ahead and Australia Post is working hard to deliver for Christmas 2020.”