A banker has been appointed as chief executive of Australia Post. The Government owned mail service has appointed Ahmed Fahour, Former National Australia Bank chief, as chief executive of Australia Post. This was done after a long international search of four months.

Mr Fahour, who headed NAB's Australian business, was also a member of the prime minister's Social Inclusion Board and a trustee of the Melbourne Cricket Ground. He also held some senior roles with Citigroup, Boston Consulting Group and most recently Gulf Finance House.

"The board's challenge to Ahmed is to write the next chapter in our corporation's proud history", said Australia Post Chairman David Mortimer in a statement.

This banker has replaced long-time logistics expert Graeme John, who had served the organization for 20 golden years, with 16 years as chief executive, and retired in August. The company announced that it would enter the insurance sector by offering car insurance online and via the phone.

Australia Post's annual net profit fell 40% last financial year which is the result of electronic forms of communication such as email and Facebook.

Mr. Fahour will take up the Australia Post role on Feb. 1 after relocating to Melbourne with his family.