Queenslander, turned global food company executive, Paul Serra, will take the helm as managing director of prominent Australian food marketer and processor, SunRice, succeeding Rob Gordon in August.
Mr Serra, a former high flyer with US food giant, Campbells Soup Company, and now in New York with agri commodities giant, Olam, starts his transition into the Australian job in July.
He officially takes over the $950,000-plus role after SunRice's August 23 annual general meeting.
He is currently North American managing director with Olam Food Ingredients, leading a team of 4000 employees at 22 food manufacturing facilities.
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Prior to joining OFI in 2020 he held several senior executive roles at Campbells, and was previously in operational roles at Arnotts Biscuits across Australia and New Zealand.
He joined Arnotts as a graduate management trainee in 2000, rising to plant operations manager eight years later.
Mr Serra's $950,000 annual pay packet could be doubled as part of a short term incentive plan offered by SunRice, which also includes a long term incentive of up to 75pc of his fixed remuneration.
He will also be entitled to a one-off B-class share offer of 150,000 share rights, subject to his satisfactory performance, plus and a further 50,000 shares at the end of next financial year.
A further 100,000 shares will be offered in 2025, subject to his satisfactory ongoing employment.
An honours degree graduate from the University of Queensland, his experience has spanned financial management achievements in the agribusiness, food ingredients and fast moving consumer goods sectors.
In-depth experience
SunRice chairman and Murray Valley rice grower, Laurie Arthur, said Mr Serra would bring an in-depth experience in supply chain, people leadership, business transformations, health and safety and operations to his role with the listed farmer-owned company.
SunRice is one of Australia's most recognised local food brands and biggest branded food exporters, and a growing force in the trans-Tasman stockfeed sector.
It is also ranks as one of the world's largest rice food companies with subsidiaries in the US, Middle East, Thailand, the Pacific and Papua New Guinea.
Paul is an accomplished executive whose leadership skills and global experience will provide the right mix to build on SunRice Group's growth strategy
- Laurie Arthur, SunRice
Last financial year SunRice had revenue of $1.3 billion and posted a $49m profit.
"Paul is an accomplished executive whose leadership skills and global experience in the growth and transformation of complex and diverse organisations will provide the right mix to continue to build on SunRice Group's growth strategy," Mr Arthur said.
Directors were confident his leadership would see SunRice well positioned to build on our core strengths and continue to create value for its farmer and investor class of shareholders.
"Paul's appointment reflects his deep commercial and operational experience, leadership capabilities and track record at both OFI and Campbell Soups.
Mr Serra described his new managing director's job as an honour and privilege.
"SunRice is a leading global food group and one of Australia's leading food exporters," he said.
The 72-year-old company was currently in an important period of its evolution as it continued expanding in Australia and overseas.
"I look forward to continuing to build on the underlying strength of the business and delivering a strategy to create long term value in partnership with the SunRice's growers, shareholders, customers, communities and its people," he said.
SunRice has agreed to pay costs for its new managing director and his family to relocate from New York to Sydney.
The retiring Mr Gordon has led SunRice's steady global and local food sector expansion since joining the group from grain trader and bulk handler, Vitterra, in 2012.
He guided SunRice's dual shareholder capital restructure and subsequent listing on the Australian Securities Exchange in 2019.
Also a director with the Ingham's poultry meat business, Mr Gordon's agribusiness background included leading Dairy Farmers co-operative before the milk processor was bought by National Foods, and time at food groups Goodman Fielder and Unilever.
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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).
