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Doors close on shameful episode," he wrote. Australia Post director Ahmed Fahour resigns just weeks after his $5.6 million was revealed by a Senate committee, which dismissed calls for it to be concealed from the public. "What I would say, is the thing that was most clear in my mind was not the compensation … it was to save this company.". Picture: Aaron Francis, 29-31 St Georges Road, Toorak is for sale with an $80m price tag. Opt Out of personalisation. Prefer us not to? Melbourne’s most powerful streets home to rich listers and celebrities — and their multimillion-dollar mansions — have been unveiled. Ahmed Fahour's bio is filled with the details of his personal and professional career. Mr Fahour joined NAB in September 2004 as chief executive of the bank's Australian and Asia operations, including oversight of NAB's wealth management arm, MLC. We strongly recommend that you obtain independent advice before you act on the content. This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. "They should do so bearing in mind that Australia Post is owned by taxpayers, who expect it to be well run and don't mind the executive team being generously remunerated — but not beyond community expectations," he said.

But Mr Fahour, who resigned on Wednesday and will step down in July, said suggestions his resignation was due to the salary revelations was "completely not true".

Frank Cicutto’s house at 21-23 Monomeath Avenue, Canterbury. Billionaire trucking magnate Lindsay Fox owns a sprawling mansion valued at more than $40m on Albany Road, which Abercromby’s director Jock Langley dubbed one of Melbourne’s “finest streets”. Doors close on shameful episode," he wrote. But Mr Fahour said the timing of the Senate inquiry had no bearing on his decision to resign. The U-shaped road flows into equally renowned Coppin Grove, where ex-Australia Post chief executive Ahmed Fahour owns Invergowrie, which he bought for $22m in 2013 and attempted to sell for $40-$44m in 2018.
Melbourne’s most powerful streets home to rich listers and celebrities — and their multimillion-dollar mansions — have been unveiled. "AusPost CEO paid millions; cuts and runs a week before Canberra grilling. Former Australia Post CEO and now Latitude Financial Group boss Ahmed Fahour is selling his stake in ASX-listed stockbroker Bell Financial Group. 56 Albany Rd, Toorak is the former home to Australia’s Honorary Consul to Monaco Andrew Cannon.

An undisclosed result was also secured for 84 Ruskin Street, which originally hit the market with a $3.1-$3.4m price guide.. "I just can't for the life of me understand why any public servant would be paid over $5 million," he said. Australia Post chairman John Stanhope said Mr Fahour had done an "outstanding job". Australia Post director Ahmed Fahour has resigned just weeks after his $5.6 million salary was revealed by a Senate committee, which dismissed calls for it to be concealed from the public.

It also contains Melbourne’s second priciest house at No. The inner west’s priciest street, Williamstown’s The Strand, rivalled Brighton’s Golden Mile by offering spectacular city views, Hocking Stuart Yarraville’s Leo Dardha said. They never got a straight answer, High Court confirms more sexual harassment complaints raised against Dyson Heydon, Qantas eyes 'end of 2021' for return of UK and US flights but says coronavirus vaccine will be necessary, Adelaide Oval puppy mauled to death weeks after hotel's opening, 'No reason why we couldn't have kept playing': V'landys reflects on NRL's COVID-impacted season, Doctors warn of lasting effects of COVID-19 after struggling to recover from virus, Australia Post says watch gifts cost $8k more than first reported, WA man charged over alleged multiple sexual assaults of 5yo and 10yo girls, Former Brisbane swim coach 'predator' jailed for sexually assaulting five young girls, 'We are protecting someone who hides behind mummy's skirt': Alleged Epstein victim angry names were redacted, Electoral commission admits 'human error' saw Queensland ballot boxes accidentally unsealed, Arrest warrant issued for two NT teens allegedly involved in fatal hit-and-run, and revealed a $4.4 million pay packet and a $1.2 million bonus, Australia Post's profit surged to $131 million after tax in the six months to December. READ MORE: Agents lack knowledge of energy ratings: Environment Victoria study, Coronavirus: Regional Victoria property markets hit by ban on Melbourne buyers, Dionnie Fahour: Ex-wife of Ahmed Fahour sells Elwood home, Mornington Peninsula real estate: Tyabb, Portsea, St Andrews luring buyers in waves, Point Cook, Patterson Lakes dream homes for sale, Berrambool Homestead: Werribee Mansion’s shabby chic sister property pinched from the Queen, The Block 2020: Mitch and Mark dish the dirt on the best houses, South Yarra marble mansion with Terracotta Warrior pool for sale.

Under Mr Fahour's leadership, the Australian region delivered cash earnings growth of 15.8 per cent for fiscal 2008, and underlying profit growth of 19.3 per cent over the previous corresponding period. Liberal Senator James Paterson, who decided to reveal Mr Fahour's salary, said the resignation provided a chance for Australia Post to increase its transparency. "Three years ago, I [forwent] my incentive. 34 Western Beach Rd, Geelong is one of the many waterfront mansions. "As someone who has spent most of his life in the business world before coming into politics, I think that's a very big salary for that job," Mr Turnbull said.

But Mr Fahour said the timing of the Senate inquiry had no bearing on his decision to resign.

While announcing the Government-owned business's half-year profits, Mr Fahour said it was the "appropriate time" to hand over management of Australia Post. A NOTE ABOUT RELEVANT ADVERTISING: We collect information about the content (including ads) you use across this site and use it to make both advertising and content more relevant to you on our network and other sites. "AusPost CEO paid millions; cuts and runs a week before Canberra grilling. "Ahmed was appointed at a time when Post was still heavily 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 said. RELATED: Toorak $80m block: David Yu quietly seeking St Georges Rd sale, Jimmy Bartel, Nadia Bartel selling St Kilda West family home, Ralph Carr: Dustin Martin’s high-profile manager sells Hawthorn home. 61 Albany Rd, Toorak sold this year for $6.2m.

The salary revelations prompted Finance Minister Mathias Cormann to write to the bosses of all Government business enterprises, urging them to improve transparency.

Minutes after his resignation was publicly announced, the Federal Government ordered the independent remuneration tribunal to oversee the salaries of Australia Post executives. "They are also entitled to the absolute best standards of transparency, not the bare minimum required by law.". Labor Senator Anne Urquhart said Australia Post's decision to quit a week before the Senate inquiry was "another blow for transparency". 39 Seacombe Grove, Brighton holds Bayside’s price record. Find out more about our policy and your choices, including how to opt-out. Picture: Daniel Pockett. "They should do so bearing in mind that Australia Post is owned by taxpayers, who expect it to be well run and don't mind the executive team being generously remunerated — but not beyond community expectations," he said.

All times AEDT (GMT +11).

Labor Senator Anne Urquhart said Australia Post's decision to quit a week before the Senate inquiry was "another blow for transparency". 36 St Vincent Place North, Albert Park sold last year.

Originally published asFahour quits NAB for Rudd role. Mr Turnbull said that salary was "too high", while Senator Fifield called on Australia Post to explain the high salaries before the Senate estimates committee. Australia Post chairman John Stanhope said Mr Fahour had done an "outstanding job". Says running Australia Post harder than owning a fish & chip shop. He said his seven-year tenure at Australia Post was "a fair innings" and it was the appropriate time to stand down. "The Australia Post board will need to demonstrate to the tribunal that their proposed remuneration package is commensurate with the responsibilities of the role," Finance Minister Mathias Cormann and Communications Minister Mitch Fifield said in a statement. "Labor has been pushing for transparency on salaries at Australia Post for some time and we will continue to investigate this issue at upcoming Senate estimates," he said. He has also confirmed his ongoing directorships of the Rip Curl Group and Nasdaq Dubai and will continue as a trustee of the MCG. Minutes after his resignation was publicly announced, the Federal Government ordered the independent remuneration tribunal to oversee the salaries of Australia Post executives. "I don't really care that much, to be honest, about my own livelihood," he said. High-profile sport and entertainment manager Ralph Carr sold his spectacular home on the street for $9.6m last year, CoreLogic records show. "Ahmed was appointed at a time when Post was still heavily 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 said. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), Australia Post boss Fahour resigns, despite profit rebound, Australia Post boss told to justify CEO's $5.6m salary, Turnbull wants Australia Post to rethink CEO's $5.6m pay packet, Australia Post director earning 10 times more than Prime Minister, Berejiklian's office shredded documents after she signed off on millions in council grants, inquiry hears, National Cabinet increases overseas returners cap, explores alternatives to hotel quarantine, ASIC boss steps aside pending investigation into $118k tax expenses, Police arrest demonstrators as hundreds gather for Melbourne anti-lockdown protest, Live: Morrison wants thousands of stranded Australians home by Christmas, Dashcam captures moment toddlers run towards busy road after escaping childcare centre, Leaving interruptions aside, Trump leans into attacks while Biden digs into policy, AFP arrests 44 men over 'abhorrent' child abuse material shared online, Andrews says Preston outbreak won't derail restrictions plan after parent tests positive, Lawyers asked Ghislaine Maxwell one question 28 times.
This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. Nadia and Jimmy Bartel put the house on the market after they split. "As someone who has spent most of his life in the business world before coming into politics, I think that's a very big salary for that job," Mr Turnbull said. Liberal Senator James Paterson, who decided to reveal Mr Fahour's salary, said the resignation provided a chance for Australia Post to increase its transparency. 18, which fetched $38m in 2017, and a vacant 4000sq m block at No. Avon Court at 18-20 Shakespeare Grove, Hawthorn.

"They are also entitled to the absolute best standards of transparency, not the bare minimum required by law.". Kylie Minogue bought her parents a house on Monomeath Avenue.

Australia Post director Ahmed Fahour has resigned just weeks after his $5.6 million salary was revealed by a Senate committee, which dismissed calls for it to be concealed from the public.
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