- Australian Agricultural Company (AAC) CEO and Managing Director Hugh Killen resigns, effective immediately
- After more than five years with the company, Mr Killen, together with the AAC board, decided now was the right time to begin an executive leadership transition
- An executive search process is underway for a new CEO, and in the meantime, company Chief Operating Officer Dave Harris will step in as acting CEO
- Chairman Donald McGauchie thanked Mr Killen for his “significant contribution” to the business and recognised the progress achieved under his leadership
- Australian Agricultural shares are down 0.4 per cent, trading at $2.24 at 12:04 pm AEST
Australian Agricultural Company (AAC) CEO and Managing Director Hugh Killen has resigned, effective immediately.
After being appointed to the top job of Australia’s largest cattle and beef producer in 2018, Mr Killen, together with the AAC board, decided now was the right time to begin an executive leadership transition.
Company Chairman, Donald McGauchie thanked the outgoing CEO for his “significant contribution” to the business.
“Hugh has steered AACo through some of the worst droughts and floods Australia has ever seen, the global impacts of COVID-19 and market fluctuations which occurred as a result of market impacts,” Mr McGauchie said.
“He has focussed on delivering AACo’s branded beef strategy, built a team encompassing the next generation of leadership and led the turnaround of the company’s performance.”
Furthermore, the company said throughout Mr Killen’s tenure, it saw an annual positive operating cash flow, posting its strongest financial results in the 2022 financial year since re-listing on the ASX in 2001.
The company’s board has begun an executive search process for a new CEO, which will include internal and external candidates in the domestic and international market.
In the meantime, the company’s Chief Operating Officer, Dave Harris, will take up the role of acting CEO.
Australian Agricultural shares were down 0.4 per cent and trading at $2.24 at 12:04 pm AEST.