Albanese government appoints Siobhan McKenna as Australia Post’s new chair

The federal government has appointed one of the nation’s most senior media executives and experienced company directors to chair Australia Post.

Author and media executive Siobhan McKenna. Picture: Ian Currie

One of the nation’s most senior media executives and experienced company directors, Siobhan McKenna, has been appointed as the chair of Australia Post.

Ms McKenna who is chair of Foxtel and Fox Sports – which is controlled by News Corp, owner of this masthead – and a director at Nova Entertainment and formerly Woolworths, among other roles, replaces Lucio Di Bartolomeo.

Mr Di Bartolomeo, who oversaw the ousting of chief executive Christine Holgate over the Cartier watch scandal, stepped down last month at the end of his term with the postal service.

Communications Minister Michelle Rowland said Ms McKenna brings “valuable commercial, strategic, digital and technology experience to the role from her many years in the media, communications, and telecommunications industries”.

“The appointment of Ms McKenna and her extensive experience in corporate governance will help support this treasured national institution in achieving these important outcomes,” Ms Rowland said.

“The government looks forward to working with Ms McKenna and the senior leadership team at Australia Post”.

Ms McKenna has previous public service experience as a commissioner with the Australian Productivity Commission and chair of NBN Co. She is also the author of a novel, Man in Armour, published in 2020.

Ms Rowland oversees Australia Post with Finance Minister Katy Gallagher, who welcomed Ms McKenna’s appointment.

Lucio Di Bartolomeo stepped down as chair at the end of his term last month. Picture: Gary Ramage

In a statement, both ministers said Ms McKenna’s “knowledge, leadership and experience will help support Australia Post as it modernises and adapts to meet shifting consumer demand”. The postal service’s profit before tax dived 45 per cent to $55.3m this year, despite generating $8.97bn in revenue, as mounting losses in the letters business eroded strong gains in its parcel delivery division.

“Australia Post has always been a driver of economic activity for small businesses and continues to deliver essential services to all Australians, particularly in regional, rural and remote Australia,” Ms Gallagher said.

Australia Post chief executive Paul Graham worked with Ms McKenna during her time as a Woolworths director and said she had the skills to lead Australia Post in its “ambitious plan to modernise”.

“I know Siobhan will bring her deep experience and passion to this role and I am looking forward to working with her once again. We have an ambitious plan to modernise our business. With Siobhan’s support, and that of the board, I’m confident we’ll continue to deliver for our customers and communities,” Mr Graham said.

The government thanked Mr Di Bartolomeo for his service, particularly in steering Australia Post through the high parcel volumes from the pandemic-fuelled online shopping boom.

But it was his handling of the fallout over revelations Ms Holgate purchased four Cartier watches to the value of $20,000 for executives as a reward for closing an important banking deal, which marred his tenure.

A Senate inquiry into Ms Holgate’s ousting found “recurring governance issues and oversight failures of the board,” under Mr Di Bartolomeo.

“There is no doubt the (former) prime minister (Scott Morrison) and shareholder ministers created a very public expectation that Ms Holgate would be stood aside, to which the board dutifully acquiesced,” the inquiry’s committee wrote in its report, completed in May last year.

“This pressure appears to have led the board to breach its duties under the Act, standing Ms Holgate aside without any evidence that she had acted improperly.”

The inquiry also took aim at political appointments to the Australia Post board.

“The process through which board appointments are made to Australia Post, and no doubt other GBEs (government business enterprises), has compromised its independence from government and undermined its ability to implement effective processes and make decisions free from undue political influence,” it said.

“This situation significantly risks the board‘s ability to oversee Australia Post’s strategic direction in the best interest of its individual and business customers, and of its employees, licensees and contractors.

“The committee recommends that the Australia Post Board be restructured to ensure that its makeup is consistent with the original intent of the Australian Postal Corporation Act 1989, and so that it functions properly as a public enterprise.”