Ahmed Fahour – Australia Post Salary and Profits
Ahmed Fahour was once Australia’s highest-paid public servant, receiving a total salary package of $5.6 million (including a $1.2 million bonus) in 2016.
Australia Post defended the payout, saying it included a bonus due to Mr Fahour for steering the business [back] into profit in 2016.
Last year’s $5.6m payout is based on $1.8m base pay, and $2.3m in short-term incentives based on the fact Fahour turned 2015 loss into a $41m profit, in 2016. The Australian. But that begs the question of how much was he paid the previous year for turning the 2014 Profit of 103.0m into a 2015 loss of 352.1m?
Ahmed Fahour Timeline
23rd February 2017: Ahmed Fahour, Australia Post’s chief executive has resigned, weeks after controversy over the size of his salary.
16th August 2016: Australia Post unveiled a $36 million profit last year after losses of $222 million in the previous year. (After Tax figures quoted) www.news.com.au/finance/business/retail/australia-posts-amazing-35-billion-turnaround/news-story/395ed86e15197c2be151e232cab6378b
24th February 2015: Australia Post is forecasting its first full-year loss in more than 30 years. www.smh.com.au/federal-politics/political-news/australia-post-profit-falls-56-per-cent-as-letters-business-crashes-20150222-13lzpr.html
11th June 2014: Mr Fahour – a former CEO of NAB and Citigroup – was paid $4.8 million last year as chief executive officer and managing director of the 100 per cent Government-owned Australia Post. www.abc.net.au/news/2014-06-11/critics-question-australia-post-ceos-multi-million-dollar-salary/5514682
23rd October 2013: Fahour was paid an unprecedented $4.8 million in 2013, including a whopping $1.9 million base salary and more than $2 million in incentive pay. www.crikey.com.au/2013/10/23/is-auspost-boss-4-8-million-salary-pushing-the-envelope
1st February 2010: Mr Fahour joined Australia Post as chief executive.
Ahmed Fahour – Australia Post Salary
2016 – $5.6 million ($1.8 million base salary)
2015 – Fahour’s salary was NOT individually shown in Australia Post’s 2015 annual report
2014 – $4.63 million ($1.74 million base salary)
2013 – $4.75 million ($1.93 million base salary)
2012 – $2.86 million ($1.71 million base salary)
2011 – $2.89 million ($1.39 million base salary)
2010 – $1.44 million ($0.59 million base salary)
(2014 was the last time his salary was individually shown in Australia Post’s annual report)
Australia Post Annual Profit or Loss before Tax
2016 $41.0m Profit
2015 $352.1m Loss
2014 $103.0m Profit
2013 $210.7m Profit
2012 $366.7m Profit
2011 $332.3m Profit
2010 $103.0m Profit
The above shows a big decline in Profits from 2012
Australia Post Return on average operating assets
2015 (8.2)% negative
The above shows a big decline in the return on assets from 2012
Australia Post Annual Returns
Australia Post Annual Reports can be downloaded from: auspost.com.au/about-us/news-media/publications
Total Australia Post Senior Executive and Director Remuneration:
2016 $18,702,653 between 8 Senior Executives and 12 Directors
2015 $13,778,063 between 9 Senior Executives and 8 Directors
2014 $16,177,703 between 9 Senior Executives and 8 Directors