Australia Post CEO Ahmed Fahour quits

Under-fire Australia Post boss Ahmed Fahour has quit, and will leave his job in July.

Fahour, who is the MD and group CEO of Australia Post, handed in his resignation at yesterday’s board meeting, according to a statement by the company.

Fahour came under fire two weeks ago, after a Senate committee revealed that he had been paid $5.6 million in salary and bonuses` for 2015-16. Australia Post has slashed jobs and cut postal deliveries in recent years.

Prime Minister Malcolm Turnbull called on Fahour to volunteer for a pay cut, saying that the postal boss’s huge salary package didn’t pass the “pub test”.

But Turnbull admitted that there was little else the government could do about the salaries awarded to Australia Post executives, saying that it was a matter for the company’s board.

Australia Post reported a pre-tax profit of $197 million for the six months to December 31, despite an 11 percent fall in letter volume in those six months.

Fahour has led Australia Post since 2010.
Read more: Turnbull tries to shame Australia Post CEO into voluntary pay cut

Australia Post chairman John Stanhope said that Fahour had done an “astounding job in transforming the business”.

“Now, with the business entering the next phase of its transformation, Ahmed’s decision to resign provides opportunity for a new leader to continue the development of Australia Post into a leading international e-commerce player,” Stanhope said in a statement released by Australia Post.

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