Freestone Resources, Inc. announced that Michael J. McGhan, previously an advisor to Freestone Resources, has been appointed as the new chief executive officer at the company, and also appointed to the company's board of directors as its chairman. Mr. McGhan served as co-CEO and ultimately Vice-Chairman of the company until December 2009. The company also announced the addition of Gerald M. Johnston to the Board of Directors.

Mr. Johnston's experience and expertise in business development will greatly benefit Freestone's future growth. Mr. Johnston retired from Tyson in 1996 and remained on Tyson's board until 2003. Upon retirement, Johnston pursued his own business ventures and investments and capitalized on his banking and finance knowledge to become an active investor and advisor to several regional banks in Arkansas.

Johnston also owns and manages several other successful ventures in areas including real estate development, agricultural businesses, and warehousing and logistics companies.