Incoming GrainCorp chief executive Robert Spurway will guide the company through a transition phase.Credit:
"Robert was the standout candidate in both our local and international search,"said GrainCorp chairman Graham Bradley.
"He is an Australian,he was keen to return to Australia and the timing has turned out sweetly,"he said.
Mr Spurway's departure from New Zealand dairy giant Fonterra was announced months ago,and he is finishing up in the role in mid-March. GrainCorp,which is pushing ahead withplans to demerge its malt business,expects the demerger to be completed in late March or early April.
Mr Bradley also addressed speculation that GrainCorp's malt business could be sold rather than demerged.
The malt business as a stand-alone company will be highly attractive to a range of investors who have not invested in GrainCorp in the past.
Graham Bradley,GrainCorp chairman
"I think it's highly unlikely that we would receive an offer that would be sufficiently attractive to deter us from our current course and strategy,"Mr Bradley said.
"We think that the malt business as a stand-alone company will be highly attractive to a range of investors who have not invested in GrainCorp in the past,because of the inherent volatility of the grains business. And they will be global investors,we will be the largest listed maltster in the world and light years ahead of any other in scale and in profitability,"he said.