The CEO of Australia Post has tendered his resignation after public outrage over the size of his multi-million-dollar annual pay packet.
Ahmed Fahour will quit the role after a political storm over his $5.6 million salary.
"With the business now poised to start a new transformation, I believe that it is appropriate and time for me to hand over the reins as the head of Australia Post," he told journalists on Thursday.
"Clearly, this has been a very difficult and emotional decision for me and my family. But I have come to the conclusion that the timing is right," he said.
He said during his tenure Australia Post had saved 10,000 jobs.
"Those 10,000 people have a job, a full-time job and they can go and support their families and that is all I care about. I care about that tremendously," he said.
"I am happy about all those other things, I am happy for the shareholder. I am happy for our customers but I am particularly delighted for the people of Australia Post."
Australia Post announces $197m HY profit before tax, up from $1.4m last HY https://t.co/ruwVdg11lL— Ahmed Fahour (@afahour) February 22, 2017
He will formally step down in July.
Earlier in the month Prime Minister Malcolm Turnbull waded into the fray over Fahour's $5.6 million salar was "too high", telling reporters he had called the chair of the Australia Post board, leaving any decision in the board's hands.
"I think that salary, that remuneration, is too high," Turnbull said at the time.
The day before, a Senate committee denied Australia Post's request to keep Fahour's salary a secret.
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