Australia Post’s CEO was paid $4.3 million in 2016
By Joe O’Donnell
Australia Post is making headlines Down Under this week after it was revealed that the postal service’s CEO made a shockingly high amount of money in 2016.
Australia’s ABC News reports that Ahmed Fahour took home $5.6 million (Australian) in financial year 2016. Of that total, $4.4 million was his salary and $1.2 million came in the form of a bonus.
In U.S. dollars, Fahour made around $4.3 million.
Connect with Linn’s Stamp News:
Sign up for our newsletter
Like us on Facebook
Follow us on Twitter
The revelation, according to ABC News, was made during a Feb. 7 Australian Senate committee meeting.
Fahour’s salary is too high, said Australian Prime Minister Malcolm Turnbull, whose annual salary of $522,000 (US$397,936) is dwarfed by the Australia CEO’s compensation.
United States Postal Service Postmaster General Megan Brennan took home a $286,137 salary in fiscal year 2016, according to the postal service’s year-end report to the Postal Regulatory Commission. She did not receive a bonus.
The Australian public was unaware of Fahour’s pay until the committee revealed it.
“The committee asked Australia Post to detail the salaries last year, after it ceased publishing such information after its 2014-15 annual report,” ABC News reports. “The government-owned business then wrote to Senator Paterson in January to claim there was no public interest justification for disclosing the salaries.”
Australia Post chairman John Stanhope has said that it was not something that was deliberately being kept secret.
He explained in this interview with Peter Ryan of ABC News:
MORE RELATED ARTICLES
World StampsJun 1, 2023, 12 PM
What’s new for 2024 Scott Standard Volume 3?
US StampsMay 31, 2023, 10 PM
Postal Service finalizes 2023 U.S. stamp program
Postal UpdatesMay 31, 2023, 6 PM
USPS board member Hajjar supportive of stamps, mail
AuctionsMay 31, 2023, 3 PM
Part 1 of extensive Kilgas China collection in June 14 Cherrystone auction