Australia Post won’t divulge boss’s salary as letters profit dives 35 per cent

Australian Post has refused to reveal how much managing director Ahmed Fahour was paid last financial year, as it reported a 35 per cent slide in profit from its crumbling letters delivery sector.

Mr Fahour was last year paid $4.8 million, which is believed to be a record for an Australia public servant. In comparison, the chief of the US Postal Service earned $384,229 in 2012.

Australia Post released its profit results for 2013-14 on Thursday and refused to disclose his salary until the annual report is tabled in Parliament in October.

An Australia Post spokeswoman said: “We are reporting our results today in line with other large GBEs [government business enterprises] and at the recommendation of our shareholder. The salary of the managing director and CEO will be made available in the annual report, yet to be tabled in Parliament.”

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The lack of transparency has angered Printing Industry Association of Australia, which represents big mail users from the print and packaging industries.

Read more: Australia Post won’t divulge boss’s salary as letters profit dives 35 per cent.