The recently sold North Australian Pastoral Company (NAPCo) has appointed Stephen Thompson as its new chief executive officer to replace Nigel Alexander.
Mr Thompson currently works with Brett Blundy Retail Capital (BBRC) overseeing that company’s 170,000 head cattle and property portfolio covering 2.4 million hectares in northern Australia.
His career has included time with food and drinks processors SPC Ardmona and Coca-Cola Amatil, and founding the Australian Wine Exchange to build supply chains for premium wine brands.
He also held a senior executive jobs at Tabcorp Holdings, including general manager of strategy.
NAPCo is one of Australia’s largest beef producers, with about 175,000 cattle on 13 stations in Queensland and the Northern Territory, plus Wainui Feedlot on the Darling Downs.
In May the Queensland Government’s $78 billion global investment manager QIC bought 80 per cent of NAPCo to form a new partnership with its then majority shareholders the Foster family.
Outgoing CEO Mr Alexander will continue to be actively involved with NAPCo as a board director for a transition period under its new ownership structure.
QIC (Queensland Investment Corporation) private equity principal and representative on the NAPCo board, Phillip Cummins, believed Mr Thompson would combine cattle industry passion with a wide ranging strategic management experience to “forge a dynamic next chapter for this historic Australian company”.
Foster family spokesman, Will Foster, extended the board’s sincere thanks and appreciation to Mr Alexander “for his tireless efforts and contribution to NAP over many years”.
“Due in large part to Mr Alexander’s leadership, NAPCo is in the strongest strategic position it has ever been,” he said.
Mr Thompson, who starts his new job on September 12, said the importance of ensuring the business continued building on those strong foundations was at the heart of his appointment discussions with the board.
“My priority will be maintaining the momentum Mr Alexander and his team achieved in terms of growth and profitability,” he said.
“This is an iconic business in Northern Australia and has an unparalleled opportunity for expansion, particularly given our proximity to the booming Asian market.
“Australian agricultural enterprises have many opportunities ahead and Nigel passes on the CEO’s duties with NAP well positioned to further develop the Australian beef industry for many years.”