FY19 statutory remuneration tables
Overview of statutory requirements
For the purposes of these disclosures, the information provided in the report has been prepared and is aligned to disclosure requirements outlined in the Corporations Act 2001, Section 300A. The PGPA Act and PGPA Rule. This sees disclosure made in three areas:
- Board director fees
- KMP and senior executives
- Aggregate reporting of “other highly paid staff”.
Australia Post has defined KMP as Board directors, the GCEO&MD and senior executives who report directly to the GCEO&MD and who have authority and responsibility for planning, directing and controlling the activities of the enterprise. These employees are the only employees considered to have the capacity and responsibility for decision making that can have a significant and direct impact on the strategic direction and financial performance of Australia Post. Remuneration received directly or indirectly by KMP is provided under an accrual basis for the years ending 30 June 2018 and 30 June 2019. All remuneration is provided in Australian Dollars.
In 2019 the Department of Finance proposed additional remuneration disclosure requirements for Commonwealth entities. The remuneration disclosures, under the PGPA Rule, require Australia Post to report on “other highly paid staff” who are neither KMP nor senior executives. The disclosures are provided on an aggregated banded basis, of $25,000, for those employees of Australian Postal Corporation whose remuneration exceeds $220,000 in 2019. Reporting is provided on a series of remuneration components including:
- Base salary
- Superannuation
- Short-term incentives
- Post-employment benefits
- Other long-term benefits
- Termination benefits
- Total remuneration
Australia Post has disclosed aggregate remuneration on an additional 493 employees under the PGPA Rule.
Statutory tables
|
Directors |
Year |
Short-term benefits |
Post employment contributions |
||
|
Director fees5 $ |
Non-monetary benefits $ |
Superannuation6 $ |
Total $ |
||
|
John Stanhope AM (Chairman) |
2019 |
189,910 |
– |
18,041 |
207,951 |
|
2018 |
186,180 |
– |
17,687 |
203,867 |
|
|
Holly Kramer (Deputy Chair) |
2019 |
116,980 |
– |
11,113 |
128,093 |
|
2018 |
114,680 |
– |
10,895 |
125,575 |
|
|
Mario D’Orazio1 |
2019 |
27,594 |
– |
2,621 |
30,215 |
|
2018 |
– |
– |
– |
||
|
Bruce McIver AM |
2019 |
105,990 |
– |
10,069 |
116,059 |
|
2018 |
103,900 |
– |
9,871 |
113,771 |
|
|
Tony Nutt AO2 |
2019 |
104,360 |
– |
9,914 |
114,274 |
|
2018 |
33,130 |
– |
3,147 |
36,277 |
|
|
The Hon Michael Ronaldson |
2019 |
104,360 |
– |
9,914 |
114,274 |
|
2018 |
102,300 |
– |
9,719 |
112,019 |
|
|
Jan West AM |
2019 |
116,980 |
– |
11,113 |
128,093 |
|
2018 |
114,670 |
– |
10,894 |
125,564 |
|
|
Deidre Willmott |
2019 |
105,990 |
– |
10,069 |
116,059 |
|
2018 |
103,103 |
– |
9,795 |
112,898 |
|
|
Former Directors |
|||||
|
Dominique Fisher3 |
2019 |
– |
– |
– |
– |
|
2018 |
41,761 |
– |
3,967 |
45,728 |
|
|
Paul Scurrah4 |
2019 |
65,761 |
– |
6,247 |
72,008 |
|
2018 |
101,621 |
– |
9,654 |
111,275 |
|
|
Total (9 Directors) |
2019 |
937,925 |
– |
89,101 |
1,027,026 |
|
2018 |
901,345 |
– |
85,629 |
986,974 |
|
1 Mario D’Orazio appointed to the Board 21 March 2019.
2 Tony Nutt AO appointed to the Board 2 March 2018.
3 Dominique Fisher retired from the Board 26 November 2017.
4 Paul Scurrah resigned from the Board 15 February 2019.
5 Board Director Fees are set by the Remuneration Tribunal and paid in cash.
6 Minimum superannuation contributions are provided as prescribed under Superannuation Guarantee legislation.
|
Senior Executives and Position titles |
Year |
Short-term benefits |
Post em- ployment benefits |
Other long-term benefits |
Other |
||||
|
Base salary14 $ |
Bonuses15 $ |
Other benefits and allowances16 $ |
Superannuation17 $ |
Long service leave18 $ |
Other long-term benefits19 $ |
Termination & retirement benefits20 $ |
Total remuneration $ |
||
|
Christine Holgate1 GCEO&MD |
2019 |
1,441,247 |
831,375 |
– |
20,531 |
47,573 |
224,500 |
– |
2,565,226 |
|
2018 |
971,452 |
515,625 |
32,868 |
20,049 |
20,894 |
85,938 |
– |
1,646,826 |
|
|
Robert Black Group Chief Operating Officer |
2019 |
999,041 |
531,956 |
– |
20,531 |
21,398 |
128,909 |
– |
1,701,835 |
|
2018 |
1,216,870 |
885,500 |
– |
20,049 |
44,568 |
73,719 |
– |
2,240,706 |
|
|
Ingo Bohlken2 EGM Product & Innovation |
2019 |
702,457 |
418,950 |
41,885 |
20,531 |
19,662 |
69,825 |
– |
1,273,310 |
|
2018 |
– |
– |
– |
– |
– |
– |
– |
– |
|
|
Rodney Boys3 Group Chief Financial Officer |
2019 |
73,178 |
– |
– |
6,455 |
1,523 |
– |
– |
81,156 |
|
2018 |
– |
– |
– |
– |
– |
– |
– |
– |
|
|
Annette Carey4 EGM International Services |
2019 |
746,303 |
390,938 |
– |
20,531 |
20,938 |
65,156 |
– |
1,243,866 |
|
2018 |
– |
– |
– |
– |
– |
– |
– |
– |
|
|
Susan Davies5 EGM People & Culture |
2019 |
703,826 |
413,438 |
– |
20,531 |
57,759 |
68,906 |
– |
1,264,460 |
|
2018 |
– |
– |
– |
– |
– |
– |
– |
– |
|
|
Nicole Sheffield6 EGM Community & Consumer |
2019 |
686,308 |
400,313 |
– |
20,531 |
12,012 |
66,719 |
– |
1,185,883 |
|
2018 |
– |
– |
– |
– |
– |
– |
– |
– |
|
|
Gary Starr7 EGM Business & Government |
2019 |
684,717 |
413,438 |
9,019 |
20,531 |
30,923 |
85,712 |
– |
1,244,340 |
|
2018 |
207,047 |
103,991 |
– |
6,646 |
13,339 |
5,571 |
– |
336,594 |
|
|
Former Senior Executives |
|||||||||
|
Ahmed Fahour AO8 MD&GCEO |
2019 |
– |
– |
– |
– |
– |
– |
– |
– |
|
2018 |
156,495 |
– |
– |
5,012 |
7,208 |
362,475 |
– |
531,190 |
|
|
Chris Blake9 EGM Corporate Services |
2019 |
566,043 |
– |
– |
20,531 |
(139,497) |
– |
476,528 |
923,605 |
|
2018 |
831,400 |
612,000 |
– |
20,049 |
27,224 |
29,531 |
– |
1,520,204 |
|
|
Christine Corbett10 EGM Community & Consumer |
2019 |
29,362 |
– |
– |
3,069 |
– |
– |
– |
32,431 |
|
2018 |
959,716 |
669,375 |
– |
101,646 |
38,372 |
32,484 |
875,000 |
2,676,593 |
|
|
Janelle Hopkins11 Group Chief Financial Officer |
2019 |
847,326 |
– |
– |
20,531 |
(87,878) |
– |
– |
779,979 |
|
2018 |
866,870 |
635,250 |
– |
20,049 |
27,475 |
58,406 |
– |
1,608,050 |
|
|
Andrew Walduck12 EGM Product & Innovation |
2019 |
20,272 |
– |
7,784 |
2,305 |
– |
– |
– |
30,361 |
|
2018 |
804,266 |
631,125 |
27,319 |
20,049 |
29,255 |
29,531 |
573,283 |
2,114,828 |
|
|
Senior Executive engaged under secondment arrangement payment |
|||||||||
|
Andrew Parker13 EGM International Services (Seconded) |
2019 |
30,940 |
– |
– |
– |
– |
– |
– |
30,940 |
|
2018 |
519,860 |
– |
– |
– |
– |
– |
– |
519,860 |
|
|
Total (13 executives) |
2019 |
7,531,020 |
3,400,408 |
58,688 |
196,608 |
(15,587) |
709,727 |
476,528 |
12,357,392 |
|
Total (9 executives) |
2018 |
6,533,976 |
4,052,866 |
60,187 |
213,549 |
208,335 |
677,655 |
1,448,283 |
13,194,851 |
1 Christine Holgate was appointed Group Chief Executive Officer & Managing Director on 30 October 2017.
2 Ingo Bohlken was appointed Executive General Manager, Product & Innovation with effect from 30 July 2018.
3 Rodney Boys was appointed Group Chief Financial Officer with effect from 27 May 2019.
4 Annette Carey was appointed Executive General Manager, International Services with effect from 1 July 2018.
5 Susan Davies was appointed Executive General Manager, People & Culture with effect from 1 July 2018.
6 Nicole Sheffield was appointed Executive General Manager, Community & Consumer with effect from 6 August 2018
7 Gary Starr was appointed Executive General Manager, Business & Government with effect from 1 March 2018.
8 Ahmed Fahour AO resigned from the position of Managing Director and Group Chief Executive Officer (MD&GCEO) with Australia Post with effect from 28 July 2017.
9 Chris Blake retired from Australia Post with effect from 31 December 2018. An ex-gratia payment, disclosed under “other termination & retirement benefits”, was made in accordance with the Deed of Separation.
10 Christine Corbett was appointed Acting Group Chief Executive Officer & Managing Director between 29 July 2017 to 29 October 2017 and ceased employment with Australia Post with effect from 13 July 2018.
11 Janelle Hopkins ceased employment with Australia Post with effect from 3 May 2019.
12 Andrew Walduck ceased employment with Australia Post with effect from 13 July 2018.
13 Andrew Parker was seconded from PricewaterhouseCoopers (PwC) on a consulting basis, which concluded on 13 July 2018, following appointment of permanent incumbent, Annette Carey. Andrew Parker is remunerated separately by PwC, with base salary comprising of consulting fees paid to PwC for this secondment.
14 Base salary comprises cash salary, net of annual leave accrued and taken during the year.
15 Bonuses comprise accrued short-term incentives payable within 12 months of the end of the period.
16 Other benefits and allowances comprise of the Reportable Fringe Benefits Amount included on the recipient’s payment summary. Amounts for Christine Holgate’s 2018 year benefits comprise of short-term accommodation paid by the Corporation for the first six months of her tenure in accordance with the determination set by the Remuneration Tribunal.
17 For employees who are members of the Australia Post Superannuation Scheme (APSS) defined benefit scheme, the superannuation benefit represents the contributions made by Australia Post into the APSS, which is determined using the employer contribution rate. If the employee is member of a defined contribution plan, the benefit is calculated at 9.5 per cent in accordance with the applicable legislation.
18 Long Service Leave (LSL) comprises the amount of leave accrued for the period. Where the LSL vesting requirements have not been met on separation, the reversal of the cumulative LSL accrual is reported as a non-cash adjustment to remuneration.
19 Other long-term benefits represents the accrued portion of short term incentives that are not payable within 12 months of the end of the period they relate to. This amount represents 50 per cent of the deferred component of the incentive awarded for the relevant year. The total deferred amount will be payable subject to certain performance conditions being met.
20 Termination benefits are payments made in relation to the termination of the senior executive role.
The past two years have delivered a 33 per cent reduction in the total remuneration outcomes payable to the Senior Executives of Australia Post, from $18,491,167 in FY17 to $12,357,392 in FY19 . This reduction is reflective of the new remuneration framework implemented by Australia Post in FY18, which saw the removal of the Long Term Incentives (LTI) Plan and the STI maximum potential being capped at 100 per cent of FAR.
The table below represents the accruals basis of remuneration received directly or indirectly by the Australian Postal Corporation’s other highly paid staff. Total reportable remuneration disclosed is the average total compensation received by employees in each remuneration band for the duration of employment within the reporting period.
|
Remuneration Band |
Number of other highly paid staff |
Short term benefits |
Post-employment benefits |
Other long-term benefits |
Termi nation benefits |
Total remuneration |
|||
|
Average base salary1 |
Average bonuses2 |
Average other benefits and allowances3 |
Average superannuation contributions4 |
Averag long-service leave5 |
Average other long term benefits6 |
Average termination benefits7 |
Averag total remuneration |
||
|
$220,001 to $245,000 |
134 |
146,630 |
27,563 |
1,141 |
12,911 |
6,080 |
164 |
37,941 |
232,429 |
|
$245,001 to $270,000 |
97 |
160,665 |
36,284 |
2,011 |
14,293 |
7,674 |
398 |
35,561 |
256,885 |
|
$270,001 to $295,000 |
70 |
187,719 |
43,128 |
939 |
16,685 |
8,478 |
643 |
23,981 |
281,572 |
|
$295,001 to $320,000 |
49 |
195,779 |
47,932 |
1,090 |
17,004 |
7,891 |
166 |
37,940 |
307,802 |
|
$320,001 to $345,000 |
32 |
208,873 |
58,185 |
2,154 |
16,963 |
7,772 |
688 |
39,725 |
334,360 |
|
$345,001 to $370,000 |
28 |
202,569 |
50,394 |
2,243 |
16,328 |
10,505 |
2,076 |
72,060 |
356,175 |
|
$370,001 to $395,000 |
17 |
220,761 |
65,521 |
411 |
18,597 |
14,807 |
765 |
64,390 |
385,252 |
|
$395,001 to $420,000 |
12 |
262,481 |
108,137 |
1,907 |
20,966 |
12,884 |
1,306 |
– |
407,681 |
|
$420,001 to $445,000 |
9 |
256,463 |
87,622 |
589 |
19,500 |
13,733 |
– |
52,072 |
429,979 |
|
$445,001 to $470,000 |
5 |
234,816 |
70,580 |
– |
16,846 |
9,961 |
– |
123,995 |
456,198 |
|
$470,001 to $495,000 |
5 |
252,898 |
95,589 |
151 |
19,006 |
10,365 |
6,400 |
95,681 |
480,089 |
|
$495,001 to $520,000 |
5 |
346,587 |
107,408 |
– |
22,636 |
12,987 |
6,285 |
15,748 |
511,651 |
|
$520,001 to $545,000 |
7 |
319,749 |
126,918 |
– |
20,508 |
14,586 |
6,250 |
43,080 |
531,091 |
|
$545,001 to $570,000 |
6 |
310,916 |
115,156 |
2,201 |
19,695 |
11,855 |
8,390 |
88,122 |
556,335 |
|
$570,001 to $595,000 |
3 |
357,220 |
179,404 |
– |
20,531 |
16,672 |
8,205 |
– |
582,032 |
|
$595,001 to $620,000 |
3 |
380,717 |
136,538 |
18,729 |
26,231 |
32,295 |
12,731 |
– |
607,241 |
|
$645,001 to $670,000 |
2 |
376,994 |
170,229 |
21,945 |
24,811 |
32,070 |
22,688 |
– |
648,738 |
|
$695,001 to $720,000 |
3 |
410,174 |
199,394 |
5,689 |
20,531 |
28,185 |
48,798 |
– |
712,772 |
|
$720,001 to $745,000 |
1 |
449,674 |
217,592 |
– |
20,531 |
14,436 |
40,175 |
– |
742,408 |
|
$745,001 to $770,000 |
1 |
316,328 |
0 |
8,962 |
10,266 |
7,131 |
– |
424,708 |
767,395 |
|
$770,001 to $795,000 |
2 |
474,713 |
229,582 |
– |
20,531 |
18,751 |
42,389 |
– |
785,966 |
|
$895,001 to $920,000 |
1 |
578,278 |
258,750 |
– |
20,531 |
16,632 |
43,125 |
– |
917,316 |
|
$920,001 to $945,000 |
1 |
469,971 |
319,193 |
– |
37,707 |
41,388 |
57,726 |
– |
925,985 |
|
Total8 |
493 |
||||||||
1 Base salary comprises the average cash salary, including amounts paid on sick leave, net annual leave benefits, higher duties, purchased leave and amounts salary sacrificed.
2 Short-term bonuses comprise of average bonuses paid or payable within 12 months.
3 Other benefits and allowances comprises of cash allowances and non-monetary benefits reported as gross fringe benefits for taxation purposes.
4 For employees who are members of the APSS defined benefit fund, the superannuation benefit represents the contribution paid to the APSS fund by Australia Post (employer contribution). If the employee is a member of a superannuation contribution scheme, the benefit is calculated in accordance with the prescribed Superannuation Guarantee legislation.
5 Long Service Leave (LSL) comprises of the movement in the LSL provision based on actuarial assessment. Where the LSL vesting requirements have not been met on separation, the reversal of the cumulative LSL accrual is reported as a non-cash adjustment to remuneration.
6 Other long-term benefits comprise of average bonuses deferred for more than 12 months.
7 Termination benefits are payments made on separation of employment and includes redundancy payments and in some instances payment in lieu of notice.
8 For the purposes of this note, senior executives are not disclosed as part of these disclosures, but reported within Table 8 of the Remuneration Report.
|
Remuneration Band |
Number of other highly paid staff |
Short term benefits |
Post-employment benefits |
Other long-term benefits |
Termination benefits |
Total remuneration |
|||
|
Average base salary1 |
Average bonuses2 |
Average other benefits and allowances3 |
Average superannuation contributions4 |
Averag long-service leave5 |
Average other long term benefits6 |
Average termination benefits7 |
Averag total remuneration |
||
|
$220,001 to $245,000 |
125 |
153,550 |
26,951 |
831 |
14,427 |
3,853 |
363 |
32,219 |
231,115 |
|
$245,001 to $270,000 |
85 |
164,570 |
34,479 |
1,249 |
15,841 |
3,937 |
114 |
39,292 |
256,644 |
|
$270,001 to $295,000 |
55 |
193,208 |
42,501 |
267 |
18,305 |
4,882 |
905 |
21,348 |
280,643 |
|
$295,001 to $320,000 |
51 |
190,751 |
41,212 |
1,588 |
17,932 |
4,934 |
– |
51,713 |
305,707 |
|
$320,001 to $345,000 |
28 |
203,483 |
53,983 |
– |
19,267 |
5,134 |
416 |
53,845 |
330,344 |
|
$345,001 to $370,000 |
27 |
215,566 |
55,360 |
1,983 |
20,313 |
6,841 |
1,208 |
56,314 |
355,534 |
|
$370,001 to $395,000 |
16 |
237,284 |
57,052 |
385 |
19,969 |
7,887 |
– |
66,660 |
382,105 |
|
$395,001 to $420,000 |
17 |
243,947 |
82,257 |
1,517 |
20,881 |
5,768 |
1,575 |
55,286 |
406,392 |
|
$420,001 to $445,000 |
9 |
233,277 |
63,579 |
3,791 |
19,901 |
7,474 |
– |
106,762 |
434,784 |
|
$445,001 to $470,000 |
12 |
234,897 |
76,186 |
– |
21,094 |
4,971 |
2,667 |
132,133 |
459,250 |
|
$470,001 to $495,000 |
6 |
282,493 |
94,332 |
– |
25,692 |
10,695 |
5,237 |
66,174 |
484,624 |
|
$495,001 to $520,000 |
10 |
332,373 |
110,693 |
6,915 |
24,944 |
9,976 |
722 |
21,338 |
506,962 |
|
$520,001 to $545,000 |
4 |
308,071 |
100,888 |
– |
20,882 |
8,884 |
– |
90,179 |
528,904 |
|
$545,001 to $570,000 |
2 |
330,070 |
169,645 |
– |
26,055 |
9,407 |
22,150 |
– |
557,325 |
|
$570,001 to $595,000 |
4 |
304,432 |
136,355 |
– |
22,680 |
14,443 |
– |
140,463 |
584,284 |
|
$595,001 to $620,000 |
1 |
114,645 |
– |
– |
15,207 |
2,824 |
– |
468,509 |
601,185 |
|
$620,001 to $645,000 |
5 |
362,599 |
180,577 |
2,327 |
23,822 |
14,618 |
13,082 |
33,000 |
630,024 |
|
$645,001 to $670,000 |
2 |
293,960 |
93,492 |
– |
22,794 |
8,886 |
– |
238,388 |
657,520 |
|
$695,001 to $720,000 |
1 |
265,017 |
97,320 |
– |
32,193 |
13,101 |
– |
310,592 |
718,223 |
|
$720,001 to $745,000 |
3 |
370,546 |
243,026 |
– |
25,912 |
16,468 |
4,084 |
76,509 |
736,545 |
|
$745,001 to $770,000 |
3 |
386,793 |
189,577 |
– |
23,824 |
16,767 |
26,410 |
114,781 |
758,153 |
|
$770,001 to $795,000 |
1 |
496,819 |
250,000 |
– |
20,049 |
11,733 |
12,500 |
– |
791,100 |
|
$795,001 to $820,000 |
3 |
326,742 |
84,839 |
24,891 |
30,461 |
10,432 |
– |
383,710 |
804,515 |
|
$845,001 to $870,000 |
1 |
531,922 |
300,000 |
– |
20,049 |
13,150 |
– |
– |
865,122 |
|
$920,001 to $945,000 |
1 |
476,228 |
371,260 |
– |
47,762 |
18,403 |
13,583 |
– |
927,235 |
|
$1,020,001to$1,045,000 |
1 |
579,226 |
428,400 |
– |
20,049 |
16,247 |
– |
– |
1,043,922 |
|
$1,170,001to$1,195,000 |
1 |
668,122 |
468,831 |
– |
20,049 |
18,735 |
– |
– |
1,175,736 |
|
Total8 |
474 |
||||||||
Footnotes below Table 9.2 also apply to this table.
Changes to remuneration for FY20
The approach to remuneration in FY20 will follow similar principles to FY19.
Additionally, two gateways for eligibility for Australia Post Corporate Incentive Plan (APCIP) will be introduced.
- Incentives will only be paid to the Australia Post Corporate Incentive Plan (APCIP) population if a Profit Before Tax (PBT) of greater that 1 cent is made.
- If the PBT stretch is not achieved but a PBT of greater than or equal to 1 cent is made then only target incentives will be paid against each KPI, no stretch incentives.
Australia Post Corporate Incentive Plan (APCIP) continues to have minimum expectations set, aligned to Australia Post’s values and behaviours. These will remain the same as FY19 and will require participants to meet the following minimum expectations:
- living our values and meeting minimum behaviour expectations;
- meeting Our Ethics;
- completion of all relevant compliance training; and
- minimum performance rating of at least 3 (or a minimum performance rating of 2 for new starters or new to role employees).
Visit
https://www.transparency.gov.au/annual-reports/australian-postal-corporation/reporting-year/2018-2019-93