The bete-noir of the print and mail industry Australia Post CEO Ahmed Fahour has just resigned from his position, following seven years in the job.

The under-fire AusPost boss has copped a torrent of criticism for the past two weeks after the Senate forced the taxpayer-owned organisation to reveal his salary, which at $5.6m turned out to be ten times more than the prime minister and the head of the massive US Postal Service.

However Fahour denies his decision to go has anything to do with the outrage that has been expressed, saying instead that after seven years in a 24/7 job it is time to go. He will stay until July.

However, The Guardian reports Fahour quit after the government told him to take a paycut.

Fahour has enraged the print and mail industry in recent years with his strategy of running down mail to focus on the parcels business, those printers and mailing houses will be popping champage corks today.

[Related: AusPost CEO earned $5.6m last year]

Andrew Macaulay, CEO of PIAA says, “It’s a fantastic day for the print and mailing industry.  This is great news and should be a circuit breaker. Ahmed Fahour has been obdurate in his refusal to communicate, engage or negotiate with his major customer, the print and mailing industry. The strategy Fahour has put in place has been damaging and has resulted in a fast decline of business mail volumes in Australia.”

Macaulay says the PIAA will be making strong representations to the relevant minister to seek to convey the industry’s viewpoint for Fahour’s successor.

AusPost released today its half year results with $115m growth in profit after tax, an 8 per cent revenue growth, but an 11 per cent decline in addressed letter volumes, following the 9.5 per cent decline in the same period last year.

More to come. 

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