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Australia Post managing director Ahmed Fahour said he was quitting the national mail service on the same day the government-owned corporation posted a profit of AU$131 million for the six months through December. The figure was a big jump from the AU$16 million profit the corporation made in the same half a year earlier. The Lebanese-born former banker, 50, said he was leaving because Australia Post had transformed from a traditional mail service to a parcel and e-commerce business during his seven years at the helm. His resignation was not caused by the widespread public outrage at his high salary, he said. "Clearly, this has been a very difficult and emotional decision for me and my family. But I've come to the conclusion that the timing is right. As the half-year results show, the transformation has worked," Fahour said. Fahour said he would leave Australia Post in July following the announcement of his successor. Earlier this month, a Senate committee revealed Fahour's pay despite objections from Australia Post that making it public could damage the corporation's brand. His AU$4.4 million salary plus an AU$1.2 million bonus in the last fiscal year was more than 10 times the prime minister's salary of AU$507,000.

2017-03-11 / Posted in