Jason Strong has been named Managing Director and Chief Executive Officer (CEO) of the Australian Agricultural Company Limited (AACo), after serving two years in the capacity of General Manager Marketing.
“After conducting an international search the Board unanimously decided that we had our new CEO in the business, we have all been impressed by Jason’s performance. He is an experienced executive with a lifelong commitment to improvement of the Australian beef industry, “ AACo Chairman Donald McGauchie said.
According to him, Mr Strong’s achievements in his two years as Head of the AACo’s Branded Beef Group have delivered significant growth in profit through a range of marketing and supply chain activities.
“Jason has a strong grounding in disciplines critical to AACo’s successful diversification from capital intensive primary production as we move to both increase the company’s earnings and reduce the cyclicality of these to generate higher and adequate returns on capital. He has wide experience in all elements of sales and marketing, including international business development, and is extremely well regarded across the company and the industry,” McGauchie said.
“Since joining AACo in November 2012 it has been a privilege to be part of a team charged with developing the company’s strategy for increased vertical integration. In my new role I look forward to leading the execution of the company’s strategy and delivering on AACo’s potential,” said Jason Strong.
Mr McGauchie also took the opportunity to thank Craig White, AACo’s Chief Financial Officer, for serving as an interim CEO prior to the appointment of Jason Strong as a permanent CEO.
“The Board and I would like to thank Craig for the leadership and judgment he has shown as interim CEO during a period where AACo undertook a capital raising that significantly strengthened the balance sheet and positioned the company to accelerate its vertical integration strategy,” said Mr McGauchie, adding that Mr White will remain a key part of the Executive team as Chief Financial Officer.
According to the ASX announcement, Mr Strong’s appointment as CEO and MD commences immediately and has no fixed term. The terms of the agreement dictate that Mr Stone has the right to resign at any time by giving 6 months’ written notice. The company also has the right to terminate his employment at any time by giving 6 months’ written notice.
Mr Strong will earn $550,000 per annum inclusive of superannuation, subject to annual review by the Board.