Gary Helou steps aside as Murray Goluburn managing director

DEPARTING Murray Goulburn boss Gary Helou will be replaced by its executive general manager of business operations David Mallinson.

Easing transition: Gary Helou, who joined Murray Goulburn in 2011 from SunRice, is to remain with company to assist his interim replacement while a search for a successor is undertaken.

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DEPARTING Murray Goulburn boss Gary Helou will be replaced by its executive general manager of business operations David Mallinson.

The announcement to the Australian Securities Exchange this morning said Mr Helou would remain with the company for a short period to assist with the transition to an interim chief executive officer while a search for a successor is undertaken.

MG chief financial officer Brad Hingle has also resigned from his position following Mr Helou’s decision to stand down.

Mr Helou will be replaced in the interim by MG executive general manager business operations David Mallinson.

MG said Mr Mallinson is an experienced strategic operation and financial leader and has held a number of leadership roles within the dairy industry over the course of his career. Prior to joining MG three years ago, he was the Fonterra Brands Limited commercial director, a consumer business which generated revenues of $3.6 bullion and employed more than 12,000 people before he was appointed Fonterra Australia/NZ chief financial officer.

Mr Mallinson has the support of MG chairman Philip Tracy.

“We are very fortunate to have within the ranks of our leadership team an executive with the breadth and depth of experience that David brings to MG,” he said.

“David has a track record delivering growth and operational turnaround programs and proven management experience across multiple geographies.”

Mr Tracy said history would judge Mr Helou as a “visionary leader who delivered a strategy that has transformed the industry”.

“Gary has made a significant contribution to MG and has been a powerful driving force behind our transition to become a globally recognised, ASX-listed food business,” he said.

“We take Gary for his passion, drive and leadership during what has been an important transformation period for MG.”

Mr Helou said: “During my time at MG, we transformed the company’s capabilities and capacity and in the process delivered two consecutive years of premium milk prices for Australian farmers. While maintaining this price has proven to be difficult in the current market conditions, I firmly believe MG has the foundations in place to support a strong and successful business in the years ahead.”

Mr Helou came to MG in 2011 from SunRice where he left following a failed $610 million takeover bid by Spanish company Ebro.

Mr Helou replaced Stephen O’Rourke who resigned from MG in 2010 — but stayed on until mid-2011 — after it was revealed his wife had been receiving undisclosed executive level salary and benefits.