Blackmores' Christine Holgate goes to Australia Post

Blackmores CEO, Christine Holgate. Photo: Supplied.

Christine Holgate is leaving Blackmores, the vitamin company she led to success in China, to run Australia Post.

She departs in September after nine years as CEO and managing director.

Holgate replaces Ahmed Fahour, due to depart in July after his resignation in February brought on from prime minister Malcolm Turnbull’s criticism of his $5.6 million salary.

Australia Post chairman John Stanhope says Holgate has a demonstrated track record of delivering results in large, complex organisations.

“Her knowledge of global eCommerce will be invaluable as we pursue our Asian Strategy, which is all about offering logistics support to Australian businesses that are either selling in Asia, or sourcing their products there,” Stanhope said.

Holgate says she feels privileged to be appointed as CEO of an iconic Australian corporation.

“Australia Post has proven itself to be one of the most resilient and successful postal businesses anywhere in the world,” she said.

“I feel fortunate to be joining at a time when we can really strengthen Post’s leading position in the eCommerce market — both here, in Australia, and in Asia.”

On Blackmores, she says she appreciates the opportunity Marcus Blackmore, the former chairman, gave her to lead Blackmores nine years ago.

“If I reflect on what I believe makes Blackmores people special, it is a shared purpose to help others improve and empower their lives through natural health,” she said.

“I have no doubt that it has been working with Marcus and the team at Blackmores that made me recognise my responsibility to contribute to society.”

Marcus Blackmore, who is still a director of the company, will return from leave to act as interim CEO while the board seeks a new CEO.

“Blackmores has enjoyed great success under Christine’s leadership,” Blackmore said.

“We’ve continued our expansion into Asia and diversified our earnings through growth of our core segments and key acquisitions. Importantly, she has been a champion for the values that have steered this company for the last 85 years.”

Blackmores shares, which hit a high of $220 in January last year, last traded at $93.95.

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