Mick McMahon is stepping down as the CEO of Ingham’s following the announcement of the Australian poultry and animal feed company’s annual financial results later in August.
However, McMahon will remain available until the end of 2018 to help assure a smooth transition.
According to a press release from the company, Quinton Hildebrand, currently Ingham’s chief commercial officer and the former CEO of Mackay Sugar, has been named as the acting CEO while the company seeks a permanent replacement for McMahon. It is expected that there will be internal applicants for the position, the company stated.
“As we started work on preparing the next 3-5 year strategy, it was the moment for me to make a decision about whether I wanted to commit for the years ahead. After four years of intense focus and commitment to the company, its employees and shareholders, it was clear to me that now was the time to begin the search for the new chief executive officer. Advising the board of my decision now facilitates an orderly leadership transition and allows business as usual operations during the executive search.”
Peter Bush, chairman of Ingham’s, stated: “We thank Mick for his years of meaningful leadership and service to Ingham’s, in particular taking the iconic Australian company on the complex journey through private ownership, through a successful [initial public offering] and implementing Project Accelerate, a strategy to make the company more efficient and competitive. His remarkable results speak for themselves.”
Bush also expressed his confidence in Hildebrand as he temporarily leads the company.
“Quinton is well respected in the business and, having led key parts of the company, is well prepared to step up when Mick leaves the business,” Bush said.
According to the WATTAgNet Top Poultry Companies Database, Ingham’s is Australia’s largest producer of poultry meat, supplying about 40 percent of the domestic poultry market.