News

SunRice bid for an extra director

By Southern Riverina News

SunRice has proposed that Dr Andrew Crane — the former CEO of Australia’s second largest private company — join its board as an additional external director.

The company will seek approval from A Class (grower) shareholders to increase the number of external directors to accommodate Dr Crane’s involvement.

SunRice chair Laurie Arthur announced the board’s intention at an information session on the proposed Australian Securities Exchange listing in Deniliquin last week.

He said while the increase in external directors is linked to the proposal, the vote on the directors will be taken separately at the company’s AGM on September 20.

Mr Arthur specified that even with an increase, the board’s composition will still comprise a majority of grower directors.

‘‘We’ve received widespread support from growers and shareholders over the past 18 months on the proposed appointment of another skills-based director,’’ Mr Arthur said.

‘‘Andrew 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.

‘‘Given our strong growth agenda and our proposal to list SunRice’s existing structure on the ASX, the timing is ideal to add Andrew’s skill set to our board.’’

In the lead up to the AGM, Dr Crane will be engaged as a consultant to SunRice.

He 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 cooperatives. He recently retired after eight years as CEO of CBH to pursue a non-executive director career.

CBH is Australia’s second largest private company with $3.9 billion turnover, running a 15 million tonne grain supply chain including 200 receival sites, ports and rail fleet and is Australia’s largest grain trader and exporter.

Dr Crane has more than 25 years’ experience trading with and investing in Asia including as a former CBH JV Director of Interflour, one of Asia’s largest flour milling businesses operating in Indonesia, Vietnam and Malaysia.

‘‘I am excited to have the opportunity to work with the growers and Board of SunRice at this important time in their history, as we consider and implement the next stages of that growth and integration from grower to consumer,’’ Dr Crane said.