Ahmed Fahour

Ahmed Fahour (born in 1966) is a business executive currently serving as the Managing Director and CEO of Australia Post and was formerly the Chief Executive Officer of the Australian operations of the National Australia Bank (NAB).

Early life and career

Fahour was born in Syria in 1966, and migrated to Australia with his parents in 1970. He studied at St Joseph's College in North Fitzroy, and later attended Redden College in Preston. After high school, he attended Latrobe University in Melbourne from 1984. After a brief spell as a graduate trainee at the ANZ Bank, he went on to complete his Master of Business Administration degree at Melbourne Business School in 1993 while working for Boston Consulting Group. He became a director of the group in 1997 and spent a year as Co-Managing Director of its joint-venture investment company, Iformation.

Banking executive

He joined Citigroup in 2000 as senior vice-president of corporate development in New York, at the age of 36. Subsequently, around 2002, Fahour became CEO of Citigroup Alternative Investments where he was responsible for consolidating all the non-traditional investment businesses (Private Equity, Hedge Funds, Real Estate) In February 2004 Fahour was named chief executive of Citigroup (Australia and New Zealand).

Fahour joined the National Australia Bank (NAB) in September 2004 as an Executive Director and Australian CEO. One month later, he became a principal Board member of the bank. Fahour focused on building a new brand, culture and service proposition at NAB. Under his leadership, there was a major turnaround in the performance of the bank and its wealth management subsidiary (MLC).

In February 2009, Fahour was appointed as interim CEO of the Australian Business Investment Partnership, an organisation which ultimately did not secure approval from the Australian Senate. In July 2009, he was appointed as CEO at Gulf Finance House, based in Bahrain, where he was responsible for developing the bank’s strategic direction and overseeing a major capital raising.

Australia Post

In December 2009, Fahour was announced as the new Managing Director and Chief Executive Officer of Australia Post (a federal government-owned business). There, he commenced a business renewal program, called "Future Ready". The program involves the implementation of a more customer-focussed business model that is designed to capitalise on Australia Post’s reputation as a trusted services provider. Under the Future Ready restructure, Fahour created four new strategic business units: Postal Services, Retail Services, Distribution & Express Services, and e-Services. This program has yet to deliver results as Australia Post's 2010 profit dropped by over 60% compared to the previous year and the announcement of closure of Post offices has been met with stiff community resistance

In 2012, the Communications Workers Union branded Fahour "a Christmas Grinch, after he decreed the staff bonus would be a $100 voucher - to be spent at Australia Post stores"; Australia Post staff usually receive a modest Christmas bonus when the government-owned business turns a profit; in 2011 they got $500 after they turned a $241 million profit, whereas they were only offered an Australia Post voucher for the larger profit of $281 million in 2012 .

Other roles

Fahour is Chairman of the Rip Curl Group; a Business Ambassador for Melbourne's northern suburbs (appointed by the Premier of Victoria); a Senior Fellow of the Financial Services Institute of Australasia ; a member of the Methodist Ladies' College, Melbourne board; Ahmed Fahour was appointed to the Carlton Football board in September 2012.

Personal life

Fahour is married with four children.