Australia Post has chosen its next CEO with current Blackmores CEO Christine Holgate taking over Ahmed Fahour’s seven and half year reign in October.
Holgate’s salary will not match Fahour’s $5.6m, her remuneration has been set at $1.37m fixed annual total remuneration and the potential to earn incentive payments of up to $1.37m, in accordance with the parameters set by the Commonwealth Remuneration Tribunal.
Holgate says she feels privileged to be appointed as CEO of such an iconic Australian corporation and she 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. 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 am a passionate advocate for Australian business seizing the opportunity that is on our doorstep in Asia and that creates opportunities for everyone – our workforce, our shareholder, the community, as well as businesses across Australia.
"I am really looking forward to joining the team. And I am 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,” Holgate says.
[Related: Auspost CEO Fahour resigns]
John Stanhope, chairman at AusPost says the company undertook a thorough global search before choosing Holgate as the outstanding candidate to lead the business through the next phase of its transformation program.
Stanhope says, "Over the past seven years we have transformed Australia Post into Australia's leading Parcels and eCommerce company and introduced critical reforms to the letters service. With Post now entering a new stage in our transformation, it is 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 eCommerce 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.”
Speculation arose after Fahour’s resignation was at similar time to the announcement of his whopping $5.6m annual salary. Fahour denied these allegations. Fahour is yet to announce his next move.
Holgate has spent the past nine years as CEO at Blackmores with previous executive roles with Telstra, JP Morgan and Cable & Wireless.
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