JOINT RELEASE
THE HON MATHIAS CORMANN
MINISTER FOR FINANCE
23 February 2017
The pay and employment conditions of Australia Post’s managing director will be overseen by the Remuneration Tribunal, under proposals announced by the Turnbull Government today.
In a letter from joint shareholder ministers, Communications Minister the Hon Mitch Fifield and Finance Minister the Hon Mathias Cormann have asked for the Remuneration Tribunal to determine the terms and conditions for the managing director’s position.
Under the Australian Postal Corporation Act, the Australia Post Board of Directors is responsible for decisions regarding the terms and conditions of the Managing Director’s employment.
Following these changes, the Board will be required to provide terms which are consistent with the Remuneration Tribunal’s determination for the employment of ‘principal executive officer’ (PEO) roles.
In her capacity as Minister Assisting the Prime Minister for the Public Service, the Hon Michaelia Cash has been requested to declare that the Managing Director’s role should sit within the Tribunal’s PEO classification structure.
The Remuneration Tribunal’s PEO classification structure consists of five bands, including terms and conditions that apply to offices in those bands.
The Australia Post Board will need to demonstrate to the Tribunal that their proposed remuneration package is commensurate with the responsibilities of the role.
Joint Shareholder Ministers have also written to the Chairman of Australia Post advising him of the proposed changes.