Former Australia Post CEO Ahmed Fahour is set to become executive chairman of packaging group, Pro Pac.
According to the Sydney Morning Herald, he takes up the role on October 27.
It is a step up from his non-executive chairman position at the business, which is 49% owned by Raphael Geminder, brother-in-law of Australian billionaire Anthony Pratt.
Last month Pro Pac acquired packaging manufacturer IPG for $177.5 million — twice the market value of Pro Pac at the time. Investors will vote on the deal the day before Farbour starts.
Pro Pac said Farhour will help “to assist with the merger of Integrated Packaging Group and transitioning of the company to a major international flexible packaging manufacturer and distributor”.
His remuneration has not been disclosed.
Fahour tendered his resignation in February after prime minister Malcolm Turnbull criticised the executive’s pay, saying the remuneration was “too high”.
He left the company with a payout of $10.8 million, boosted by bonuses.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.