It is believed from industry insiders that AACo now former CEO Jason Strong (pictured) was sacked. The company is looking for someone to take the branded beef side of the business to a new level and Strong, being more of a Cattle guy did not have the required skill set
This is their statement below:
The Board of Australian Agricultural Company Limited (AACo) announced today the resignation of Managing Director and Chief Executive Officer, Jason Strong.
AACo Chairman Donald McGauchie said, “We have thanked Jason for his significant contribution to AACo and in leading the company as we transition from pastoral company towards a vertically integrated, luxury, branded beef business. Jason’s depth of market knowledge and passion for the Australian beef industry has been of tremendous value to AACo during his four year tenure. He leaves the business a respected leader, colleague and friend. We wish him well as he pursues his future 0pportunities.”
Jason Strong said “I am very proud of all that we have achieved at AACo. To have been able to achieve one of our best operating results in 193 years during the Company’s transition is a testament to the business and everyone in it.”
The AACo Board has engaged Egon Zehnder to lead an executive search for a new Managing Director, with a plan to fill the appointment before the end of calendar year 2017. The Board anticipates the search will include both external and internal candidates. Shehan Dissanayake, Executive Director of AACo, has advised the Board that he should not be considered for the role.
During the executive search period, the leadership team will be augmented by an Interim Operating Committee. The AACo Board has appointed three independent directors to the Interim Operating Committee: Donald McGauchie (Chairman of the Board), Stuart Black (Chair of the Audit and Risk Management Committee) and Tom Keene (Chair of the Staff Remuneration Committee)