The process of transitioning to new leadership has begun for SunRice following the announcement its CEO Rob Gordon is set to retire.
The long-running CEO and managing director will finish with the company in August.
The board congratulated Mr Gordon for successfully leading the SunRice Group through a period of significant growth during periods of drought, COVID-19 and more recently flooding, while maintaining strong financial results.
Mr Gordon will continue as CEO until the commencement of his successor.
This will ensure stability for the group, and assist in an orderly transition of executive responsibility.
SunRice Group chairman Laurie Arthur paid tribute to Mr Gordon, thanking him for his leadership and contribution to the SunRice Group.
“Rob has led the SunRice Group through a period of significant change and growth and will leave the SunRice Group in a strong financial and operational position, well positioned to deliver on its long term growth objectives.
“The board has maintained an ongoing focus on succession planning during recent years to ensure we have the appropriate leadership structure, senior management skills and capabilities in place to support a new CEO.
“This planning and the ample notice provided by Rob, will enable the effective transition to the best possible successor at a time when SunRice is well positioned to enter its next phase of growth.
“While Rob will remain CEO until the AGM in August 2023, I would today like to thank him on behalf of the board for his leadership during a period of major challenges and global change for our company and the industries in which we operate.
“The quality of the SunRice Group’s results over the years, including most recently the FY2023 half-year results announced today, demonstrates the quality of Rob’s tenure as CEO and the quality of the executive leadership team that he has built.
“Across his time in the role, SunRice has delivered total shareholder returns of over 400 per cent, including dividends and share price growth, compared to approximately 150 per cent across the ASX 300.”
Mr Gordon has driven the execution of the Group’s Growth Strategy, with key achievements including:
• The successful listing of SunRice on the ASX;
• The establishment of the substantial trading hub in Singapore;
• A strategic acquisition program including the acquisition of a rice processing mill in Dong Thap
Province in Vietnam, KJ&Co, Roza’s Gourmet and Pryde’s EasiFeed;
• The establishment and expansion of SunRice’s global sourcing capability to secure supply to
new and existing markets;
• The SunRice Group’s sustainability strategy including its priority areas and targets; and
• Delivering improved returns to growers.
Mr Gordon said it has been a privilege to serve as the CEO of the SunRice Group, and to work with an “exceptionally skilled executive leadership team whose commitment and efforts have helped position the SunRice Group as a global food group and one of Australia’s leading branded food exporters”.
“I am proud of what we have accomplished for our customers, shareholders, employees and the rice industry. It is the appropriate time now for a new CEO to be transitioned into the role and to lead the group into its next phase of growth and innovation.
“My plan is to redirect my passion and energy into my other interests and enjoy spending more time with my family.
“In the meantime, I am committed to the group and to ensuring my successor is set up for success to lead the SunRice Group into the next phase.”