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2017-08-29

remuneration

Excessive executive remuneration continues at Australia Post

Australia Post chairman John Stanhope said “we understand that community expectations have changed, there’s no questions about that, regarding pay or executive remuneration,” adding that former CEO Ahmed Fahour’s contract had been drawn up “before (his) time”.

However, we don’t think community expectations have changed at all. The public would never have swallowed it – if they actual knew about it.

One community expectation that certainly hasn’t changed is that of an efficient and reliable “World’s Best” postal service – especially where they’re now paying more for that service.

And the slew of complaints clogging up Post’s social media channels and dominating mainstream media reporting in recent times demonstrates that expectation is not being met – and our members are copping the brunt of it.

Some of those same executives responsible for those service cuts are still there, and are still taking home excessive wage packages topped up by exorbitantly-large cash bonuses.

Australia Post and the Government must explain what they will be doing to reign in executive remuneration – particularly where the Turnbull Government has forced members to swallow their unfair wages policy.

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