SYDNEY, AUSTRALIA: Seafarms Group Limited announced the appointment of Mr Mick McMahon as Chief Executive Officer (CEO) and Mr Ian Brannan as Group Chief Finance Officer (CFO) commencing 20 September 2021.
These appointments are part of the strategy to transform Seafarms into a significant multinational business.
As previously announced, a capital raising by Seafarms for Project Sea Dragon was strongly supported by Seafarms Chairman Mr Ian Trahar and other long term major shareholders. This has enabled the company to commence on-ground construction for Project Sea Dragon in northern Australia.
Mr McMahon has held extensive senior leadership roles with major domestic and international companies across numerous industry sectors, while Mr Brannan has extensive experience across a range of major food and building supplies companies both in Australia and internationally.
Seafarms Chairman Mr Ian Trahar said: “I am delighted to have secured the highly credentialed Mr Mick McMahon as CEO and Mr Ian Brannan as Group CFO.
“Mr McMahon brings deep knowledge and experience to Seafarms that will benefit the development and growth of Project Sea Dragon aimed at transforming our business into a significant global seafood player.
In addition to his experience as CEO of Inghams Group Limited (Inghams), Mr McMahon has extensive experience with major Australian retailers, a major animal feed and nutrition provider and Australia’s largest skilled labour provider with a strong exposure to northern Australia.
“Mr McMahon is uniquely positioned to appreciate the challenges and opportunities that the vertically integrated business structure of Project Sea Dragon brings, and the importance of our advanced breeding and biosecurity programs.”
Commenting on his appointment as CEO, Mr McMahon said “I am delighted to be joining the Seafarms team at this critical stage of its development and look forward to building on the work done to date to create a world class integrated prawn business that delivers benefits for all its stakeholders.”
Referring to the appointment of Mr Ian Brannan, Seafarms Chairman Mr Trahar said: “Mr Brannan was Group Chief Finance Officer at Inghams at the same time that Mr McMahon was CEO and Managing Director. Having already worked together Mr McMahon and Mr Brannan are a proven team.”
Mr McMahon is subscribing for 36.4 million Seafarms fully paid shares and Mr Brannan for 9 million fully paid shares by way of a direct share placement to both parties, on the same basis as the recently completed capital raising including 3 for 5 unlisted options.
Seafarms Group Limited (ASX:SFG) is a sustainable aquaculture company, producing the premium Crystal Bay Prawns and developing the Project Sea Dragon prawn aquaculture project in northern Australia.
Seafarms Group Ltd share price
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2 Sep, 4:10 pm GMT+10 ·Disclaimer
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