The high profile former boss of big West Australian grain business Co-operative Bulk Handling, Dr Andy Crane, is set to join SunRice’s board as shareholders contemplate the company’s shift to the Australian Securities Exchange.
He has also just been engaged as a consultant to the national rice export marketer and processor.
Dr Crane, who left CBH last September, is proposed as SunRice’s additional external director in a move coinciding with the company’s plan to allow its B-class shares to trade openly on the ASX.
Shareholders are still to vote on the ASX move, and plans for SunRice to increase its non-grower director numbers to four, while maintaining seven grower seats on its board.
The first of a series of farmer meetings to explain the capital restructure and a proposed $30 million capital raising attracted more than 130 farmers and robust discussion in Deniliquin on Monday.
The extra board board position is planned regardless of whether shareholders support the ASX move at the in September 20 annual general meeting.
Andy is very experienced, with a solid track record of delivering sustained growth and performance in large complex organisations
- Laurie Arthur, SunRice
Dr Crane has more than 30 years’ experience working in agriculture for a range of trading, processing and international marketing businesses as statutory authorities, listed entities and co-operatives.
He spent 17 years with CBH, including eight years as chief executive officer Australia’s most successful farmer co-op and largest grain trader and exporter.
CBH also rates as Australia’s second largest private company with a $3.9 billion turnover, 200 receival sites and ports, and a 15m tonne grain supply chain including and rail fleet.
Chairman, Laurie Aurthur, said given farmer-owned SunRice’s strong growth agenda and intentions to move from the smaller capital National Stock Exchange to the ASX, the timing was ideal to add Dr Crane’s skill set to the board.
“I look forward to introducing him to our growers and shareholders in the months ahead,” he said.
“We’ve received widespread support from growers and shareholders in the past 18 months on the proposed appointment of another skills-based director.
“Andy is very experienced, with a solid track record of delivering sustained growth and performance in large complex organisations through clear strategic thinking and execution, leadership of cultural change and a focus on safety and values.”
“He is a fantastic fit for SunRice, not only because of his extensive experience in Asia, but also because of his passion for agriculture and his resolve to see companies like ours prosper for our growers as well as investors.”
Dr Crane, also a Curtin University councillor, has more than 25 years’ experience trading with and investing in Asia including with CBH joint venture, Interflour, one of Asia’s largest flour milling businesses.
He originally entered the the grain and food processing sector in the UK, working in the malting industry.
He said he had long supported agricultural businesses growing to a scale that allowed them to compete and thrive at a regional and global level.
“I am excited to have the opportunity to work with the growers and SunRice directors at this important time as we consider and implement the next stages of that growth and integration from grower to consumer.”
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Andrew Marshall
Andrew Marshall is the group agribusiness writer for ACM's state agricultural weeklies and websites. He is a former editor at The Land and has worked in various Rural Press group roles in Canberra, North Richmond (NSW) and Toowoomba (Qld).
Andrew Marshall is the group agribusiness writer for ACM's state agricultural weeklies and websites. He is a former editor at The Land and has worked in various Rural Press group roles in Canberra, North Richmond (NSW) and Toowoomba (Qld).
