SYDNEY: Namoi Cotton Limited notified that Chief Executive Officer, Mr Michael Renehan, has resigned to pursue other opportunities and will leave the organisation on 10 February 2021.
Michael joined Namoi Cotton Limited in 2019 as CEO and undertook a Modernisation Program to ensure that the business met the challenges of the drought and, more recently, the COVID-19 work environment.
This restructure has now placed the Company in a better position to build for the future.
Namoi Chair, Mr Tim Watson, said “ On behalf of the Board, I would like to thank Michael for his contribution during a time of significant change for the Company”.
Namoi Cotton CFO, Mr John Stevenson, has been appointed as interim acting CEO. The Board has initiated a process with an executive recruiting agency for a replacement CEO.
Namoi Cotton Limited was formed as a grower owned co-operative in Wee Waa, NSW in 1962 by a small group of pioneering cotton growers. In October 2017, Namoi Cotton restructured to become Namoi Cotton Limited, a fully public company listed on the ASX. Namoi Cotton primarily operates in the Australian and global cotton industry.