Australia Post chief paid ‘mind-blowing’ $1.2m bonus

Josh Taylor

The outgoing chief executive of Australia Post, Paul Graham , was paid a $1.2m bonus on top of his $1.64m base salary in the last financial year, after the $139.4m sale of property owned by Australia Post pushed the organisation into a profit for the year.

Graham, who announced this month he will retire after five years at the helm in June next year, confirmed to Senate estimates on Tuesday night he had been paid the bonus based on two performance components, with one component related to the “property strategy we had to execute”.

He said the strategy was critical to Australia Post’s transformation:

double quotation mark We do have the great fortune of sitting on property that has been in the network for some time, and it was important for us to get an articulated, clear strategy … releasing those non-core properties from our portfolio and ensuring that they provided the cashflow that not only got us back into a profitable position, but…