Australian Agricultural Company Ltd
(ASX:AAC) has appointed former Telstra chairman, Donald McGauchie as chairman of the company.
The appointment of Mr McGauchie comes at a time of strategic change within the company as it moves away from beef production to processing and marketing.
The company says Mr McGauchie will join the board at the company’s annual general meeting on May 19, and take over the role of chairman from Nick Burton Taylor three months after that.
Mr McGauchie says he has been briefed on the recent strategic review at Australian Agricultural Company, including the new initiatives in cattle marketing, beef processing and cattle breeding programs.
Mr McGauchie says the long term outlook for beef globally is extremely strong, with global demand outgrowing fundamental supply.
Australian Agricultural Company has undergone significant change in the past year, firing its CEO and CFO and appointed a fresh team in December of last year.
In 2009 Australian Agricultural Company posted a $53.74 million loss.
