Murray Goulburn Appoints New Managing Director
Murray Goulburn Appoints Gary Helou as new Managing Director
The Board of Murray Goulburn Co-operative announced today that it has appointed Gary Helou as the company’s new Managing Director. Mr Helou will take up his appointment with Murray Goulburn on the 3rd of October 2011.
Grant Davies, Murray Goulburn Chairman, said Mr Helou has a strong background in both agriculture and fast moving consumer goods.
“As Chief Executive of Ricegrowers Limited since 1999, Mr Helou has supported the transformation of Ricegrowers to an integrated global company with strong brands and processed products. Ricegrowers is one of Australia’s largest food exporters along with Murray Goulburn” Mr Davies said.
The appointment of Mr Helou followed an extensive search process which the Board initiated following the announcement of Stephen O’Rourke’s retirement from the role in November last year.
“I am very excited to be joining Murray Goulburn” Mr Helou said.
“As global food demand continues to grow, Murray Goulburn is well positioned with a strong balance sheet, diversified product range and customer base and ownership of processing, transport and brand assets. This allows the company to capture and maximise returns for their farmer/shareholders.”
In making the announcement, Murray Goulburn Chairman Grant Davies acknowledged the contribution of outgoing Managing Director Stephen O’Rourke:
“Stephen has made an outstanding contribution during his 25 years with the business. He has provided essential leadership during a period of extraordinary growth and development for Murray Goulburn. During Stephen’s 13 year tenure as Managing Director, Murray Goulburn has grown revenues by nearly $1.5 billion to peak at more than $2.5 billion; domestic sales have more than doubled to over $1 billion, and shareholder equity has increased almost three-fold to more than $700 million.
“Stephen has led our company through some challenging times beginning with de-regulation of our market place, then through one of the most severe droughts on record, and most recently through the global financial crisis. Through all of this he has steadily implemented a guiding strategy to transform Murray Goulburn from a commodity based business to a more customer focused and value adding dairy company.
“On behalf of our farmer/shareholders and the Board, I would like to thank Stephen for his tremendous contribution and wish him and his family the very best for the future.”
Outgoing Managing Director Stephen O’Rourke said he has greatly appreciated the opportunity to work on behalf of Murray Goulburn’s farmer shareholders:
“I have been privileged to work for Murray Goulburn. Murray Goulburn is a great company, in great shape and poised to get stronger. A strong balance sheet, clear strategy and the drought broken gives the business and its farmer shareholders a great opportunity to move onwards and upwards.”
