Australia Post reveals Cartier watches cost nearly $20,000 rather than $12,000

Embattled Australia Post CEO Christine Holgates claim that a gift of four Cartier watches was approved by her chairman has been demolished by the organisations board in a bombshell statement.Australia Post Chair, Lucio Di Bartolomeo, revealed late on Friday that a search of the government-owned organisation’s records could find no evidence that the Cartier watches were approved at a meeting as described by Ms Holgate or subsequent meetings.
It suggests that while some discussion of a “reward” for executives may have been occurred, that the idea to buy the Cartier watches was Ms Holgate’s decision.
The bombshell statement follows a meeting of the Australia Post board on Friday after Ms Holgate stood aside as CEO and the Prime Minister warned if she did not wish to do so “she should go.”
“The Board is acutely aware of community and shareholder feedback over the last 24 hours,’’ Australia Post Chair, Lucio Di Bartolomeo said.
“The Board noted media commentary regarding the then Board’s involvement in the purchase of Cartier watches. The Board was advised at today’s meeting that a check of Board papers and minutes from this period show the then Board was not asked to approve or note the purchase of those Cartier watches.
“The Board was further advised today that these papers and minutes do not record any subsequent reference to the purchase.”
That version of events fits with the former Australia Post chairman Jon Stanhope’s memory that he had not approved the purchase.
News.com.au understands Mr Stanhope made attempts to call Ms Holgate on Friday to correct the record before the release of the statement.
But in more bad news for Ms Holgate, the Board also revealed her estimate of the cost of the Cartier timepieces significantly underestimated how much was spent.
“Since the appearance, I have become aware of further details of the purchase and wish, as a matter of urgency, to clarify that the purchase was of four items costing $7,000, $4,750, $4,400 and $3,800 totalling $19,950 (including GST), and was made in November 2018,’’ the statement said.
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“Australia Post will continue to participate transparently in Budget Estimates 2020-21 processes, including to review the proof Hansard transcript of evidence when it is made available and to respond to questions on notice, and will – as reflected in my public statement yesterday – also fully co-operate with the recently announced investigation to be conducted by shareholder departments.”
Australia Post also issued a grovelling pledge to deliver Christmas presents on time despite COVID-19 pressures.
“Finally, at yesterday’s Senate Estimates hearing Christine Holgate and other senior executives outlined the detailed plans that are in place to prepare for this year’s Christmas peak. In light of the expected more than 50 per cent growth in parcel delivery it will be the most challenging period in the history of the organisation. This morning the Board tasked Acting CEO and CFO Rodney Boys with ensuring those plans are implemented in full,’’ the statement said.
“We understand that the impacts of COVID on our ability to deliver in a timely manner have tested the patience of our customers, old and new. We thank them for their ongoing support and understanding. We also thank our staff for their ongoing commitment to the organisation.
On Thursday, Ms Holgate told Senate estimates the watches cost around $3,000 each.
“They were a Cartier watch of about a value of $3,000 each,’’ she said.
“I didn’t actually purchase them. They were organised through my office on behalf of the Chair and I.”
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Ms Holgate again reinforced that former chair Jon Stanhope approved the Cartier watches in a second exchange.
“I have not used taxpayers’ money. We are a commercial organisation. We do not receive government funding. We are a commercial organisation,’’ she said.
“It was a recommendation from our Chair that these people get rewarded.”
The former British business executive marks the third anniversary of her appointment on October 30, 2017.
The Australia Post made her appearance at Senate estimates on Thursday wearing a gold watch from Bulgari that retails for up to $48,000.
The Serpenti Tubogas watch is billed as offering its owner the “sinuosity of the snake with the contemporary soul of tubogas” and “evoking both the sensual curves of a woman and the fluid shape of the serpent.”
Ms Holgate first raised eyebrows last year with her new wheels – an electric blue Range Rover with personalised “POSTY1” number plates.
On Friday, the Prime Minister said he made no apologies for putting “a rocket” up Australia Post.
“I think there wouldn’t be a board member of a government agency or a CEO of a government agency that did not get my message yesterday,’ he said.
“I think they got it with a rocket. And so, my advice to them is to get it.”