Former NZ Post exec has new job after payout

A former New Zealand Post executive paid a $208,000 golden handshake last year has been hired as chief executive of Maltapost.

NZ Post subsidiary Transend holds a 35 per cent stake in the Maltese postal service.

It announced on Sunday night that one of NZ Post’s former general managers, Robert Lake, had been appointed to the top job at Maltapost, replacing the former chief executive, who left after just four months.

Mr Lake, who held senior sales, marketing and operational positions at NZ Post for 11 years, was paid $208,858 when he left last year.

His severance payment was criticised by Opposition MPs at the time as evidence that secret payouts had not ended despite a move by the Government to stamp them out.

Act MP Rodney Hide yesterday criticised Mr Lake’s appointment to Maltapost, saying that last year’s payout was a waste of taxpayer money considering he was back on the payroll.

Mr Hide said it showed that NZ Post had not taken seriously the Prime Minister’s directive to end the culture of secret payments.

NZ Post said this year that the payment of $208,858 to Mr Lake was made in accordance with his contract provisions.

In a statement, Maltapost chairman Frank Dimech said Mr Lake brought significant experience to the role of chief executive.

He said Mr Lake would begin work in Malta once a work permit had been issued and would be on a fixed-term contract for 18 months, ending in January 2004.