Seafarms Group Limited (ASX: SFG) today, 20 August 2026, announced the immediate termination for cause of its Chief Executive Officer, Mr Peter Fraser. Seafarms Group Limited is a sustainable aquaculture company dedicated to producing the premium Crystal Bay® Prawns and is currently developing the large-scale Project Sea Dragon prawn aquaculture project in northern Australia. Following Mr Fraser’s departure, Mr Rod Dyer, who has been fulfilling a limited capacity as Managing Director on a casual basis, will now step into an expanded role to subsume the responsibilities of the Chief Executive Officer, effective from today.
Mr Dyer’s transition into the comprehensive Managing Director and CEO position capitalises on his significant prior experience and deep-rooted understanding of Seafarms Group’s business. His professional background encompasses previous roles as CEO, executive director, and more recently, as a non-executive director since Mr Fraser’s initial appointment. This extensive history with the company ensures that Mr Dyer possesses current and intricate knowledge of both the overall operations of the group and the strategic development of Project Sea Dragon, positioning him well to lead the company forward.
The key terms of Mr Dyer’s expanded employment agreement define his position as Managing Director & CEO, with a direct reporting line to the Board of Directors. His official commencement date for this comprehensive role is 20 August 2026, with the appointment being on an ongoing basis. Mr Dyer’s remuneration will be structured on an hourly basis, compensated at a rate of $440 per hour. Furthermore, the employment agreement specifies that either Seafarms Group Limited or Mr Dyer may terminate the arrangement by providing a 24-hour written notice. This announcement, detailing the leadership changes, has received full approval from the company’s Board.
