With the aim to reestablish itself in the current situation of falling letter volumes, Australia Post has announced that it has, after an extensive 4 months search, appointed a banker as its Chief Executive.

The State owned mailing service on Wednesday confirmed that its Chief Executive will now be the ex-National Australia Bank Ltd. Senior Manager Ahmed Fahour. The search for a new Chief, as shared by the company, was an extensive, international operation and took a total of 4 months.

"The board's challenge to Ahmed is to write the next chapter in our corporation's proud history. This will involve proposing ambitious new strategies that further strengthen our balance sheet and improve our profitability", said Australia Post Chairman David Mortimer.

Mr. Fahour was formerly the head of NAB's Australian business, and was a prime candidate for a top job at the bank itself, an opportunity he missed in favor of the current Chief Executive Cameron Clyde.

"We all recognize that the world is changing faster than ever before, especially the world of communications. My primary role as chief executive officer is to position the business to profit from these challenges", said Mr. Fahour.