The Managing Director and CEO of Australia Post, Ahmed Fahour has formally resigned from his post. Fahour will step down from his role in July this year but Australia Post is already seeking his replacement.

The CEO of Australia Post tendered his resignation at the Board meeting on the 22nd of February. He has been MD and CEO of the postal operator since 2010. John Stanhope, Chairman of the Australia Post board said in a statement that Fahour’s legacy will be felt for many years to come.

“By any measure, Ahmed has done an astounding job in transforming the business,” said Stanhope. “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.”

“Now, with the business entering the next phase of its transformation, Ahmed’s decision to resign provides opportunity for a new leader to continue the development of Australia Post into a leading international eCommerce player.

“Ahmed was appointed at a time when 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.

Australia Post’s statement did not mention that Fahour’s reported $5.6m remuneration package has been the subject of much criticism in the Australia media. Even the Australian Prime Minister Malcom Turnbull weighed into the debate saying: “That is a very big salary for that job.”
 
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