Australia Post dumps chief executive’s corporate credit card after luxury watches scandal

Australia Post has overhauled its rewards policy and use of credit cards after the infamous Cartier watches controversy.

Australia Post has scrapped the chief executive’s corporate credit card and “tightened” its rewards policy for staff following the infamous Cartier watches scandal that claimed the scalp of its boss.

Acting group chief executive Rodney Boys told a Senate estimates hearing on Tuesday that Australia Post had cancelled some corporate credit cards following an internal review into expenditures.

“We’ve removed a number of credit cards, we’ve lowered limits on other credit cards (and) we’ve removed the office of the CEO credit card, for example,” he said.

“We’ve tightened up on our reward and recognition policy, and we’ve introduced lower limits.

“We already had limits for gifts, benefits and hospitality declarations – we’ve lowered those limits considerably in recent months.”

Rodney Boys says Australia Post has cancelled some corporate credit cards following an internal review. Picture: Sam Mooy/Getty Images

Mr Boys said the changes were among 32 recommendations being implemented after the internal inquiry. So far, 26 have been completed.

He said the review “largely concurred” with the recommendations of a separate investigation by law firm Maddocks.

Christine Holgate quit as chief executive of Australia Post in November after it was revealed she purchased luxury watches worth a total of $20,000 for four employees as a reward for securing a banking deal in 2018.

Australia Post chair Lucio Di Bartolomeo told the Senate estimates hearing Ms Holgate had reluctantly agreed to stand aside in October pending the government’s inquiry.

“We advised her that we wished her to stand aside while this investigation took place,” he said.

“She was clearly reluctant to do so initially, but over a number of discussions, she ultimately agreed.”

Former Australia Post chief executive Christine Holgate quit over the scandal. Picture: Gary Ramage/NCA NewsWire

Mr Di Bartolomeo said Ms Holgate wanted her resignation effective immediately “and not give us the six months’ notice, which was a condition of her employment”.

“We went back to her and ... we asked her to confirm that she wasn’t seeking that six months’ payment as per her letter, which said she would not take any financial compensation.

“We were releasing her from a condition she had to us to give us the six months’ notice.”

Originally published as Australia Post dumps chief executive’s corporate credit card after luxury watches scandal