Ahmed Fahour leaves his stamp on Aust Post

Australia Post CEO Ahmed Fahour has resigned after seven years in the role but has left behind his stamp on a transformed postal service.

POSTMAN NO MORE: AHMED FAHOUR'S SEVEN YEARS AT AUSTRALIA POST

* Appointed managing director and CEO of Australia Post in 2010 after a career in banking, including as a senior executive of National Australia Bank

* Transformed Aust Post from a $1.5 billion to $5 billion business

* Parcels business revenue has more than doubled, profit tripled

* Delivered $4 billion in dividend, taxes and subsidies to the government

* Aust Post made a $36.4 million profit in 2015/16 after a $222 million loss in the prior year, and a half-year profit of $131 million for first half of 2016/17

* He moved Aust Post away from letters and stamps to parcels and e-commerce, which now account for 70 per cent of revenue and 100 per cent of profit

* Unions say Fahour is responsible for 2,000 job cuts at Aust Post; he says he saved 10,000 through redeployments

* Fahour was criticised for his $5.6 million salary after it was revealed by a parliamentary committee in February

* PM Malcolm Turnbull joined the critics, saying: "I think Ahmed should step back and say 'you know, here in 2017, in an economy where a lot of people are doing it pretty hard, where budgets are tight, this is too much to be paid as CEO of a government-owned postal company'.

* On Thursday, Mr Fahour said Aust Post "don't take $1 from the taxpayer". "Our $4 billion goes back to the taxpayer to support education, support schools, support the police force."


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Source: AAP



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