ElfeMya
9th February 2017, 14:51
While browsing this evening I could not help but stop at this. (http://www.businessinsider.com.au/half-of-australia-posts-36-million-profit-last-year-went-to-just-six-executives-2017-2)
According to the article on Business Insider Australia website, the data was made public on the 7th of February after Victorian Liberal senator James Paterson, who chairs the environment and communications legislation committee, refused the company’s request for confidentiality and released the details arguing Fahour is the country’s highest paid public servant and this despite the actions of Australia Post :
Australia Post asking a parliamentary committee to keep them secret to prevent “unwarranted media attention” and “brand damage”. Disclosing the pay levels to the public “may be prejudicial to the individuals involved”, Australia Post’s company secretary said. The company argued that publishing how much its top people are paid could lead to “brand damage for Australia Post which when operating in a competitive market, may be significantly detrimental to our business and future profitability”.
The data shows that half of Australia Post revenue is actually going to their top executives.
http://edge.alluremedia.com.au/uploads/businessinsider/2017/02/Australia-Post-pay.jpg
On the 8th, Australia Post released this statement :
The remuneration of the executive team, including the Managing Director & Group CEO, is set by the Australia Post Board.
Mr Fahour’s total remuneration package takes into account the size and complexity of the organisation, which has an annual turnover of more than $6 billion. It also reflects the large-scale transformation underway and that more than 73% of its revenue comes from the non-regulated side of the business where it is competing with major global players such as DHL, FedEx and Toll.
Mr Fahour’s remuneration in FY16 included a performance-based short-term bonus in line with Australia Post returning to profit. The previous year he did not receive a bonus.
Total executive remuneration has not increased since 2014 when the executive last received their full eligible performance bonus.
Since 2007 Australia Post has paid more than $6.3b in dividends and taxes to the Federal Government. Australia Post does not receive any taxpayer funding.
Though it might not be tax payers money, the post is still a service all the public uses and from my years in Oz and being a regular consumer at the Post I definitely find that they are not cheap at all for their services... so in the end, it felt to me like this was still Australian's people money going there, even though not originally collected through the tax system...
And half of it going to the top executives is still quite not easy to stomach for me...
According to the article on Business Insider Australia website, the data was made public on the 7th of February after Victorian Liberal senator James Paterson, who chairs the environment and communications legislation committee, refused the company’s request for confidentiality and released the details arguing Fahour is the country’s highest paid public servant and this despite the actions of Australia Post :
Australia Post asking a parliamentary committee to keep them secret to prevent “unwarranted media attention” and “brand damage”. Disclosing the pay levels to the public “may be prejudicial to the individuals involved”, Australia Post’s company secretary said. The company argued that publishing how much its top people are paid could lead to “brand damage for Australia Post which when operating in a competitive market, may be significantly detrimental to our business and future profitability”.
The data shows that half of Australia Post revenue is actually going to their top executives.
http://edge.alluremedia.com.au/uploads/businessinsider/2017/02/Australia-Post-pay.jpg
On the 8th, Australia Post released this statement :
The remuneration of the executive team, including the Managing Director & Group CEO, is set by the Australia Post Board.
Mr Fahour’s total remuneration package takes into account the size and complexity of the organisation, which has an annual turnover of more than $6 billion. It also reflects the large-scale transformation underway and that more than 73% of its revenue comes from the non-regulated side of the business where it is competing with major global players such as DHL, FedEx and Toll.
Mr Fahour’s remuneration in FY16 included a performance-based short-term bonus in line with Australia Post returning to profit. The previous year he did not receive a bonus.
Total executive remuneration has not increased since 2014 when the executive last received their full eligible performance bonus.
Since 2007 Australia Post has paid more than $6.3b in dividends and taxes to the Federal Government. Australia Post does not receive any taxpayer funding.
Though it might not be tax payers money, the post is still a service all the public uses and from my years in Oz and being a regular consumer at the Post I definitely find that they are not cheap at all for their services... so in the end, it felt to me like this was still Australian's people money going there, even though not originally collected through the tax system...
And half of it going to the top executives is still quite not easy to stomach for me...