Who’s is Australia Post Anyway? A failure of Board Governance

So Ahmed Fahour, CEO of Australia Post, resigned yesterday, immediately after announcing a strong profit result and despite being supported by the board chair who said he had done a fantastic job of turning around the 100% government-owned Company.  Perhaps it was the disclosure of his $5.6m salary, perhaps the government enquiry into Australia Post’s salaries, perhaps the Prime Minister’s comment to the board (appointed by the current government) that salaries were too high, perhaps that Farhur had been there 7 years.  But what is clear is this:  it’s yet another failure of board governance that allowed this situation to arise.  Let me explain why the wrong people are being castigated.

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