Australia Post's profit up by 11%
Last financial year Ahmed Fahour took home a base salary of just under $2,000,000, and on top of his base rate, he took home incentive bonuses of $2,700,000, according to the Sydney Morning Herald Business today article. That is $91,000 EVERY WEEK. $2,200 PER HOUR. Considering that most Licensees are lucky to break even running 80% of this network under his watch that is just obscene.
There is no other way to describe this.
Apparently he has met the Australia Post's Board of Directors 'Targets' to earn his bonus. Do any of these people live in the real world? Is the Board complicit in the underpayment of fair and reasonable fees and commissions, of an estimated $110,000,000 based on the CPI, to Licensees each and every year for at least the last 5 years. Is this underpayment part of the Board's target. Or can we be expected to believe they are simply not aware of the facts.