Australia Post CEO Ahmed Fahour resigns after salary furor

Australia Post director Ahmed Fahour has resigned just weeks after his $5.6 million salary was revealed by a Senate committee, which dismissed calls for it to be concealed from the public.

The Government-owned business had attempted to conceal Mr Fahour’s salary — which is 10 times more than the $507,338 Prime Minister Malcolm Turnbull is paid — because it would result in “unwarranted media attention”.

But the Senate committee said his salary was overwhelmingly in the public interest and revealed a $4.4 million pay packet and a $1.2 million bonus, taking his total package to $5.6 million.

Mr Fahour’s resignation comes after Australia Post’s profit surged to $131 million after tax in the six months to December, up from $16 million profit for the same period in 2015.

Minutes after his resignation was publicly announced, the Federal Government ordered the independent remuneration tribunal to oversee the salaries of Australia Post executives.

Source: Australia Post CEO Ahmed Fahour resigns after salary furore – ABC News (Australian Broadcasting Corporation)