New Zealand Farming Systems Uruguay has announced CEO Alistair de Raadt and the company will part ways next year.
Mr de Raadt’s contract expires on January 31st, and Chairman John Parker says while his work so far has been exceptional, the contract was always short term.
“He was contracted through til January.
First of all we had a management contract with [PGG] Wrightsons, so couldn’t employ somebody directly ourselves.
So he had to be contracted by Wrightsons, although [they]were co-operative and he was our appointee.”
Mr de Raadt says he has enjoyed the position at the helm of a company in challenging times, but he’s seen through a transitory phase, and is ready to move on.
"The key thing has been a move from a contracted management of the company to fully internalised management here in Uruguay and we are in the very, very last phases of that right now.
The key part of the brief has been to steer the company through that process.”
NZSFU shares ended last week at 58 cents, well below the 70 cents most shareholders were paid by Olam International, who now control the company.
