After weeks of intense criticism over his $5.6 million annual remuneration, former banker Ahmed Fahour has resigned as CEO of Australia Post. Apparently, Fahour’s decision to quit had nothing to do with the wage controversy or him having to appear before a Senate committee in a few weeks.

Fahour certainly went down boasting, with Fairfax reporting that he claimed: "We, humble old Australia Post, is now the parcels e-commerce company of Australia. And the taxpayer now has a business that is worth more than $5 billion competing commercially out there in the marketplace."