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Australia Former Australia Post CEO cleared of wrongdoing over Cartier scandal

03:16  23 january  2021
03:16  23 january  2021 Source:   dailymail.co.uk

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20,000 Cartier watch scandal - but report finds the board did not approve the exorbitant purchase Australia Post board did not approve Christine Holgate's purchase of watches Ms Holgate gifted ,000 in Cartier watches to four staff in November, 2018 'There is contradictory evidence as to whether the former group CEO and managing director

The board of Australia Post did not approve the purchase of Cartier watches worth almost ,000, a report has found. The federal government on Friday “There is contradictory evidence as to whether the former group CEO and managing director informed the former chair that it was her intention to

a person wearing a suit and tie: MailOnline logo © Provided by Daily Mail MailOnline logo

The board of Australia Post did not approve the purchase of Cartier watches worth almost $20,000, a report has found.

The federal government on Friday released a 40-page report of an investigation into former chief executive Christine Holgate's decision to give the watches to four staff in November 2018 as a reward for clinching a banking deal.

Australia Post chair Lucio Di Bartolomeo told an inquiry in November he would have blocked the purchase of the luxury watches if he was in charge when the gifts were doled out to senior executives.

The investigation found the board 'did not consider or approve the purchase of the Cartier watches'.

Not on my watch: Holgate report leaves nobody satisfied — or nailed

  Not on my watch: Holgate report leaves nobody satisfied — or nailed The government quietly dropped the report on Friday afternoon. And it's easy to see why.Last year’s revelations that Holgate gave out bonuses to Australia Post executives in the form of gold Cartier watches (worth a total of $20,000) outraged the prime minister. But, as expected, the report seems to let Holgate off the hook — somewhat.

The chief executive of Australia Post , Christine Holgate, appears before the Senate estimates She denied public money had been used to buy Cartier watches worth ,000 each for four executives. Morrison said Holgate, a former chief of the Blackmores vitamin company who joined Australia Post

Under siege Australia Post CEO Christine Holgate was supposed to be stood down over the Cartier watch scandal but it now appears her Australia Post boss has not received any formal notice regarding her suspension. Pressure has mounted on Christine Holgate after the Cartier watch scandal .

a person wearing a suit and tie: Christine Holgate, former CEO of Australia Post, has been cleared of any wrongdoing over the Cartier watch scandal © Provided by Daily Mail Christine Holgate, former CEO of Australia Post, has been cleared of any wrongdoing over the Cartier watch scandal

'There is no documentary evidence that the board approved the expenditure for, and none of the board members interviewed recalled any discussion about the purchase of, the Cartier watches.

'There is contradictory evidence as to whether the former group CEO and managing director informed the former chair that it was her intention to purchase the Cartier watches or whether the former chair approved the commitment of funds for this purchase.

'No definitive finding can be made in this regard.'


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The boss of Australia Post has resigned over a watch scandal that saw thousands of dollars' worth of Cartier watches given to several executives . Christine Holgate was urged to stand aside after admitting that four luxury time pieces were given to the staff members for their hard work on a

Christine Holgate recently resigned as chief executive of Australia Post , conceding a decision to reward four senior employees with Cartier watches did not pass the "pub test". Ms Holgate had earlier defended the purchase of the watches on a corporate credit card while giving evidence to a Senate

However on the positive side for the now-resigned Ms Holgate, the investigation found 'no indication of dishonesty, fraud, corruption or intentional misuse of Australia Post funds by any individual involved in the matters relating to the purchase and gifting of the Cartier watches'.

Ms Holgate had gifted four watches totalling around $20,000 to staff members in November 2018 as a reward for clinching a banking deal © Provided by Daily Mail Ms Holgate had gifted four watches totalling around $20,000 to staff members in November 2018 as a reward for clinching a banking deal

But the purchase was found to be inconsistent with public service obligations imposed on the board governing the 'proper use and management of public resources'.

Australia Post has since launched a review of policies in relation to gifts and benefits.

The investigation also found - based on a preliminary review of a limited set of credit card usage records - it appeared there were 'potentially other instances of credit card usage for charges that, although for lesser amounts than the expenditure on the Cartier watches, may also be inconsistent with public expectations and Australia Post's policies'.

Report shows former Australia Post CEO Christine Holgate did not have board approval for Cartier watch gifts

  Report shows former Australia Post CEO Christine Holgate did not have board approval for Cartier watch gifts A Federal Government report shows the Australia Post board did not approve former chief executive Christine Holgate's decision to purchase four luxury watches for executives, but finds no evidence of fraud or corruption in relation to the decision.Former Australia Post chief executive Christine Holgate resigned in November last year after Federal Government criticism of her.

Christine Holgate has resigned as chief executive of Australia Post after an investigation was Friends have since revealed the businesswoman has been 'crying for days' over the scandal . Senator Kitching: OK so just to be clear , the four people who received Cartier watches were Mr Starr.

Christine Holgate has resigned as chief executive of Australia Post after the launch of an Ms Holgate has been under scrutiny since it was revealed Cartier watches worth almost ,000 were given to senior staff. Australia Post CEO Christine Holgate has resigned over a corruption scandal .

Law firm Maddocks was engaged by the finance department to support the investigation.

Ms Holgate has previously stated she did nothing wrong other than fail the 'pub test' for some people.

She argued the executives given the watches had done an 'inordinate amount of work' to negotiate a financial services deal with three banks.

Prime Minister Scott Morrison said at the time it was revealed he was appalled and shocked by the behaviour.

a person standing in front of a mirror posing for the camera: Ms Holgate stepped down from her role as CEO and an investigation found the watches were never approved by the Australia Post board © Provided by Daily Mail Ms Holgate stepped down from her role as CEO and an investigation found the watches were never approved by the Australia Post board Read more

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usr: 0
This is interesting!