Following its trading update to the ASX this week, Murray Goulburn Co-operative (MG) announced that the stewardship of the company would be best served under fresh leadership.
MG Managing Director Gary Helou will step down from his role, but remain with the company for a short period to assist with the transition to an interim CEO, while a search for a successor for Mr Helou is undertaken.
Mr Helou will also cease to be a director of MG Unit Trust’s MG Responsible Entity Ltd.
“During my time at MG, we’ve transformed the company’s capabilities and capacity and in the process delivered two consecutive years of premium milk prices for Australian farmers,” he said. “While maintaining this price has proven to be difficult in current market conditions, I firmly believe MG has the foundations in place to support a strong and successful business in the years ahead.”
David Mallinson, currently Executive General Manager Business Operations, has been appointed interim CEO of MG and MG Responsible Entity Limited. Before joining MG three years ago, he was commercial director for Fonterra Brands Ltd, then chief financial officer for Fonterra Australia/NZ.
MG also confirmed that Brad Hingle had resigned from his position as chief financial officer following Mr Helou’s decision to step down as MD, but would remain in the business to assist with the finalisation of the FY16 annual results.
