Following a four month international search, Ahmed Fahour has been announced as the new managing director and chief executive officer of Australia Post.

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

Fahour’s first challenge will be to develop new strategies that strengthen the company’s balance sheet and improve its profitability.

Fahour has previously worked at The Boston Consulting Group, Citigroup, NAB and Gulf Finance House.

“We all recognise that the world is changing faster than ever before, especially the world of communications. Australia Post is responding to these changes,” Fahour said. “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.”

Fahour will take up his role on 1 February 2010.