Fahour to hold Aramex director role for six months


Australia Post says Fahour’s directorship is in the best interest of the company

Fahour to hold Aramex director role for six months
Aramex will be responsible for Fahour’s service fee during this period.

 

Outgoing Australia Post CEO Ahmed Fahour will retain his director role on the board of Aramex for a transitional period of up to six months.

Australia Post states Fahour’s directorship is in the best interests of the business.

Australia Post will maintain the right to replace Fahour as a nominee director on the Aramex board at any time during the term.

"His [Fahour’s] additional time as an Aramex director is in the best interests of the business, ensuring continuity in the role while Australia Post transitions to new Managing Director and Group CEO, Christine Holgate," Australia Post states. 

"Australia Post's relationship with Aramex is important in its strategy to grow parcel volumes and secure jobs by connecting Australian businesses and consumers with emerging global e-commerce markets, particularly in Asia."

Aramex covers Fahour cost

Dubai-headquartered Aramex will be responsible for Fahour’s service fee and all additional costs associated with the director role.

The announcement comes on the last day of Fahour’s term at the MD and Group CEO, the positions he held for over seven years.

Fahour resigned from his role a week after the revelation of his $5.6 million salary sparked off a major public outcry.

Four months later, Australia Post named Holgate as his successor.

Holgate, who is the current CEO of Blackmores, will take over the new role in October.

Australia Post announced three more changes to its board in June including, current non-executive board member Holly Kramer being promoted to the role of deputy chair, and DP World Australia CEO Paul Scurrah and Chamber of Commerce and Industry of Western Australia CEO Deidre Willmott being appointed as part-time non-executive directors.

You can also follow our updates by joining our LinkedIn group or liking us on Facebook