Tag: New Zealand Post

Elmar Toime, who has just been appointed deputy executive chairman of Royal Mail, was investigated by the New Zealand public accounts watchdog for failing to deal with financial impropriety in the postal organisation he ran. Mr Toime, who, together with new Royal Mail chief executive Adam Crozier, will be Britain’s best-paid public servant, was chief executive of New Zealand Post when its subsidiary Transend was investigated for “wasteful and excessive spending” on expenses. As such, he was one of the executive members of the Transend board. A report, commissioned from Price Waterhouse Coopers by New Zealand Post’s directors, investigated the allegations of impropriety, prior to the watchdog’s involvement.

The chief executive of New Zealand Post, Elmar Toime, is leaving to take a top job with British postal giant Royal Mail Holdings.

His resignation was announced late last night, just days after Opposition MPs demanded that he quit after the Auditor-General uncovered extravagant spending by senior staff of the taxpayer-owned NZ Post subsidiary Transend Worldwide.

Mr Toime _ who earned about $770,000 a year at NZ Post _ was on the Transend board with managing director Drew Stein, and as CEO of NZ Post had overall responsibility for Transend’s operation.