23 December 2009

Australia Post Chairman David Mortimer today announced the appointment of Ahmed Fahour as the new Managing Director and Chief Executive Officer following a four month international search.

Mr Mortimer said Mr Fahour brings a wealth of experience to Australia Post following his roles at The Boston Consulting Group, Citigroup, NAB and most recently Gulf Finance House.

"The board of Australia Post is delighted to have appointed someone of Ahmed Fahour's calibre. He is an experienced chief executive in both Australia and overseas, who has a proven track record of growing a company's profitability," said Mr Mortimer.

"The board's challenge to Ahmed is to write the next chapter in our corporation's proud history. This will involve proposing ambitious new strategies that further strengthen our balance sheet and improve our profitability."

Mr Fahour said he felt privileged to be selected to lead one of Australia's great icon companies and most trusted brands as it confronts the challenges of a rapidly changing world.

"Australia Post, as it has done many times over its two hundred year history, is in the process of reinventing itself. I'm excited at the prospect of directing this reinvention," said Mr Fahour.

"We all recognize that the world is changing faster than ever before, especially the world of communications. Australia Post is responding to these changes. My primary role as Chief Executive Officer is to position the business to profit from these challenges through my leadership of a world class management team."

"I am delighted to come home to Australia. Australia Post's strong community focus and values were as important as the business aspects in my decision to accept the role.

"The challenge of serving every Australian community virtually everyday while delivering strong business returns is what makes Australia Post unique," said Mr Fahour.

Mr Fahour will take up the role on 1 February 2010 after he and his family have completed their relocation and settled back in Melbourne.

For further information, please contact:
Stephen Walter +61 3 9106 7135

• 2009