The Malta Business Weekly

Australia Post boss paid 10 times more than PM

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Australian Prime Minister Malcolm Turnbull has called on the country's state postal operator to reconsider the pay awarded to its chief executive.

It has emerged that Ahmed Fahour earned A$5.6m ($4.34m) last year - more than ten times the PM's salary.

Mr Turnbull said the remunerati­on was "too high".

Australia Post defended the payout, saying it included a bonus due to Mr Fahour who steered the business from loss to profit in 2016.

The organisati­on is government­owned, with politician­s on all sides saying the salary was too high for a civil servant.

Mr Fahour's total payout for the year to June 2016, included a A$1.2m bonus as well as all other benefits including superannua­tion (pension contributi­ons), Australia Post said.

"It's a very competitiv­e business and we need to pay competitiv­e salaries," the firm's chairman John Stanhope told the Australian Broadcasti­ng Corporatio­n.

He added that all the firm's profits - and almost three-quarters of its sales - came from its parcel business, which competed against the likes of DHL and FedEx.

The salary details emerged after a request from Australia's Senate.

Australia Post stopped routinely publishing executive pay informatio­n after its 2014-15 annual report, but Mr Stanhope said there had been "no intended secrecy, or lack of transparen­cy".

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