PM calls Australia Post chairman over $5.6 million CEO salary

SBS World News Radio: PM says Australia Post CEO's $5 million salary too high.

PM calls Australia Post chairman over $5.6 million CEO salaryPM calls Australia Post chairman over $5.6 million CEO salary

PM calls Australia Post chairman over $5.6 million CEO salary

In response to questions from a Senate committee, the salaries of Australia Post's top executives have been revealed.

Last year, Ahmed Fahour's base salary was $4.4 million dollars and he received a $1.2 million dollar bonus.

Five other senior executives at Australia post earned over $1.3 million dollars in the same financial year.

It would take Prime Minister Malcolm Turnbull ten years to earn Ahmed Fahour's salary and he says it's too much.

I've spoken to the chairman today, I think that salary, that remuneration is too high it's a matter for the board, i think it is too high i know it's a big job, it's a big company."

Among Australia's top public servants, Ahmed Fahour is now the best paid.

He earned more than National Broadband Network boss Bill Morrow - who took home about three million dollars last financial year.

And he earns more than his counterparts in the United States, Canada and Britain.

Victorian Senator James Paterson was part of the committee that revealed Mr Fahour's salary.

"This is a publicly owned entity. It's just a basic matter of accountability and transparency that the public should know what they are effectively paying this person that owns that company but they are particularly entitled to question if they feel the service they receive from Australia Post isn't up to scratch."

But Senator Paterson says apart from making his salary public, the government can't force Ahmed Fahour to reduce it.

"Our only power over AusPost is we appoint the board and then it's up to the baord to make decisions on behalf of Auspost. The government can't force AusPost to change Mr Fahour's salary."

In a statement, Australia Post says 'Mr Fahour's total remuneration package takes into account the size and complexity of the organisation, which has an annual turnover of more than $6 billion dollars'.

It says it 'has paid more than six-point-three billion dollars in dividends and taxes to the Federal Government' and 'does not receive any taxpayer funding.'

Australia Post had argued not to reveal its executive salaries because it said it would damage its brand, something Senator Paterson rejects.

"I'm completely unconvinced for two reasons. One, Auspost used to reveal this information in its annual report but they stopped doing so and two, every listed company in Australia is required by law to reveal this information."

Not one politician showed support for Australia Post in Parliament.

One Nation Leader Pauline Hanson said she is outraged.

"I am absolutely disgusted and last I heard he was on four-point-eigh million. I am going to find out who has approved this, why it has been approved. Because no Australian would support this, no one."

And Labor Senator Doug Cameron says for a company that sought nearly two thousand voluntary redundancies in 2015, the salary is unacceptable.

"I think executives in this country are overpaid. They try to push Bangladesh wage rates and conditions for their workers but Wall Street paying conditions for the executives.

 






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