Elders : Planned Retirement of CFOOpens in a new Window

4 March 2021

Planned Retirement of CFO

Elders (ASX:ELD) announces that Richard Davey intends to retire from Elders as Chief Financial Officer with effect from no later than 30 June 2021. Richard's final day of work with Elders will depend on number of factors including the timing of appointment of a replacement CFO.

Richard joined Elders in 2002 and was appointed CFO on 1 February 2013. Richard's diligence in building a high performing Finance function, his contribution as an integral member of the Executive Committee and his broader involvement with the business have been key drivers of Elders' strong financial position with capacity to grow.

As CFO, Richard was instrumental in the turnaround of Elders and the successful delivery of two Eight Point Plans. Richard played a key role in the stabilisation of the balance sheet and the recommencement of dividend payments, numerous successful acquisitions including Titan Ag and AIRR and ongoing cost, efficiency and cash realisation improvements over many years.

Elders CEO, Mark Allison said: "Richard will leave the business in a far healthier state than when he commenced as CFO. On behalf of all his colleagues I sincerely thank him for his dedication and efforts. We all wish him the very best for the future."

Elders Chair, Ian Wilton said, "The Board of Elders thanks Richard for being an extremely safe pair of hands in whom the Board could have confidence at all times. Richard has always put the interests of Elders and its stakeholders first. The fruits of all his hard work are borne out in the continual improvement in financial performance experienced by shareholders in recent years."

The company will commence a search process for a new CFO.

Further Information:

Mark Allison

Chief Executive Officer 0439 030 905

Authorised by:

The Board of Directors

Elders Limited ABN 004 3

Elders Limited ABN 34 004 336 636. Registered Office: Level 10, 80 Grenfell Street, Adelaide SA Australia 5000