Australia Post CEO Ahmed Fahour received AU$10 million to go away from Australia Post. Can he have earned his money?
Probably not. When the PM gets paid that sort of money then it might be reasonable for a CEO of a large government corporation to get the same. For public/private corporations who over pay their CEOs it's their money I suppose. But for a government body to do something like this is patently stupid.
No, he didn't. We could hire at least the next 5 most highly paid Mail CEOs for that money. The people who run much larger mail services in Europe & the US get a fraction of that. This isn't to say he did a poor job. From what I've heard from inside the organization he is considered to have done a very good job, just not one worth that coin. He played the board like a violin and walked away with a ton of money. His replacement isn't getting remotely the same pay.
I can't understand how we keep permitting sharp operators to fleece us like this. He's not the only one. Ian Narev has made a mozza and has been exposed as tolerating unscrupulous business practices. Are we completely lacking in business ethics, or is there another reason for this?
None of them ever really do . We have people who have ****ed up royally getting mega million bonuses - what a joke! But I suppose we can take solace from the fact that we have not, to date, elected one to run the country
Australia Post pays Ahmed Fahour $10.8m, cuts bonuses Read more: http://www.afr.com/business/austral...8m-cuts-bonuses-20170824-gy3mrt#ixzz4r306VLMQ Follow us: @FinancialReview on Twitter | financialreview on Facebook
That is unbelievable. Apparently the Australia Post board previously had the capacity to set chief executive pay. Only now its being determined by the Remuneration Tribunal. Astounding. Excuse me while I go and punch something.
