Finance Minister Mathias Cormann has warned government businesses about high executive salaries after outrage over Australia Post boss Ahmed Fahour's $5.6 million pay packet
Mr Cormann on Saturday said he had written to all government business chairs "to remind them that in setting executive remuneration they needed to be conscious of community expectations in relation to remuneration practices".
These enterprises are now required to make executive remuneration arrangements for the 2015-16 financial year public.
Prime Minister Malcolm Turnbull earlier labelled Mr Fahour's salary for the last financial year part of a "cult of excessive executive CEO remuneration" and suggested he take a pay cut.
Australia Post wanted to keep its chief's $4.4 million salary and a $1.2 million bonus secret before it was revealed in documents released by a parliamentary committee.
The business argued that revealing salaries could expose its executives to unwarranted media attention and cause brand damage, and preferred to release the information on a confidential basis.
But committee chairman James Paterson said there were no compelling reason to keep from public scrutiny the amount Australia Post paid its senior management.
The documents also revealed that another five executives, who were not named, each earned between $1.8 million and $1.3 million.
Australia Post said its executive team's remuneration was set by the board and not management.
Mr Fahour's remuneration included a performance-based bonus in line with the company returning to profit and he did not receive a bonus the previous year, it said.
Share
