Former Australia Post boss Christine Holgate will receive a $1 million settlement for losing her job more than nine months after the acrimonious split.
Ms Holgate left the organisation last year following a scandal over four luxury watches worth $20,000 being gifted to executives.
Australia Post has also agreed to pay $100,000 of the former chief executive officer’s legal costs under a deal struck following mediation.
In a joint statement on Wednesday, both parties revealed that Ms Holgate would receive $1 million as a taxable employment termination payment.
“To finalise the matter so that both parties can move on, Ms Holgate has released Australia Post from all legal claims and Australia Post is making the payment without any admission of liability,” the statement read.
Australia Post acknowledged it lost an effective chief executive following the October 22 when a furore erupted over the Cartier watches.
“Australia Post regrets the difficult circumstances surrounding Ms Holgate’s departure from her role as CEO,” the statement said.
The parties entered mediation after Ms Holgate claimed she was bullied and unlawfully stood aside.
Australia Post chair Lucio Di Bartolomeo resisted calls to resign after a parliamentary report called for him to fall on his sword.
Mr Di Bartolomeo was adamant Ms Holgate chose to stand aside during an investigation into the saga.
Scott Morrison infamously stood up during Question Time hours after the gifts were revealed and called on Ms Holgate to stand aside.
“If she doesn’t wish to do that, she can go,” he said.
Ms Holgate said the prime minister’s spray humiliated her in one of the worst acts of bullying she had seen.
Mr Morrison later said he regretted the distress his “strong language” caused, but he did not apologise.
In explosive evidence during a parliamentary hearing, Ms Holgate revealed she was suicidal after being forced out.
“I lost my job, a job that I loved, because I was humiliated by our prime minister for committing no offence and then bullied by my chairman,” she told the committee.
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