AUSTRALIAN Agricultural Company director Nick Burton Taylor has ended his decade-long involvement with the nation's biggest beef producer without the storm of controversy the market has come to expect from a company that, until recently, has been riddled with bitter divisions.
Mr Burton Taylor and fellow director and supporter Chris Roberts revealed yesterday they would vacate their positions at the company's annual meeting, to be held early next year, The Australian Financial Review reports.
Mr Burton Taylor, who has also had stints as AAco's chief executive, was infamously dumped as chairman in 2008 after falling out with major shareholder Elders, which had been looking to quit its large stake in the beef producer.
The board infighting persisted even after Mr Burton Taylor and Mr Roberts rejoined the board in 2009 on winning the backing of new major shareholder IFFCO.
The chairman of AAco Donald McGauchie, said the board had been "very stable" since he assumed his role in May last year and Mr Burton Taylor and Mr Roberts were not leaving under controversial circumstances. "Absolutely the opposite is the case," he said.
He said they both had played a role in selecting three new board members and would remain with AAco to ensure there would be a smooth transition. AAco has appointed former GrainCorp managing director Tom Keene, former National Farmers Federation president David Crombie and chartered accountant Stuart Black to the board following a two-month search process.
