The CEO of Australia’s government-owned postal service resigned on Thursday, two weeks after it was revealed that he received a salary of 5.6 million Australian dollars (4.3 million US dollars) last financial year.
After two weeks of speculation over Fahour’s future at the company, an Australia Post statement released on Thursday confirmed the CEO had resigned at a board meeting overnight.
Fahour told News Corp the decision to leave his post was not made in relation to the salary scandal, rather, after seven years in the position it was time to “move on” .
“The main reason why I am hanging up the footy boots at Australia Post is I’ve done seven years in this job — the average CEO in this country is lasting around three years,” Fahour said.
“Seven years is a long time … particularly as it is a 24-7 job.”
John Stanhope, chairman of the Australia Post Board, said Fahour leaves the company in much better shape than when he took over in 2009.
“By any measure, Ahmed has done an astounding job in transforming the business,” Stanhope said in a statement on Thursday.
“When he started, he was set the challenge to ‘write the next chapter in the history of Australia Post’ — and he certainly rose to that challenge.”
“Ahmed was appointed at a time when Australia Post was still highly dependent on revenue from the letters service, but the community’s use of letters had already peaked and was in the early stages of decline.
“He led the team that developed an entirely new strategy focused on investing in the parcels and eCommerce business.”
“It was the right strategy. It has put Australia Post on a pathway to a sustainable future and avoiding a taxpayer bailout.”
Meanwhile following Fahour’s announcement, government Senator James Paterson said the government had taken “complete control” of the Australia Post CEO salary following a sustained public backlash to the 5.6 million Australian dollar figure. Enditem