Lock moves from CMG to job with Style

27 Sep, 2015 02:00 AM
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David Lock will leave Craig Mostyn Group at the end of the year to a new position with agribusiness company, Style Limited.
David Lock will leave Craig Mostyn Group at the end of the year to a new position with agribusiness company, Style Limited.

CRAIG Mostyn Group (CMG) chief executive officer David Lock is leaving the company to take up a position with another agribusiness company, Style Limited.

"It is very clear, my role will be to deliver the growth that the company is going to look for," Mr Lock said.

"My role will be to try find opportunities to build the team and develop strategy."

Mr Lock, who is qualified as a chartered accountant, has worked for CMG for the past 19 years, serving as CEO since 2004.

Style executive chairman Peter Hutchinson said Style was delighted to have attracted someone of Mr Lock's calibre to lead the company through what is shaping to be a very exciting period.

" It is very significant for the company at this stage of its development to be able to attract a senior figure in the Australian agribusiness landscape," Mr Hutchinson said.

"David's decision to join the company and be responsible for driving the business and its strategy is a strong endorsement of the early efforts to establish a high quality, diversified agribusiness platform based out of WA."

Mr Lock said he is excited by the new challenge and looking forward to growing the business over the coming years.

"There is increasing demand for high quality Australian produce and that bodes well in terms of where Style is positioning itself," he said.

"The vertically integrated business model the company is establishing will also play an important part in ensuring its success, in my view."

Mr Lock will continue in his roles as the Western Australian Meat Industry Authority chairman and appointed non-executive director of Water Corporation.

He will commence with Style on January 1, 2016, at which time Mr Hutchinson intends to move to the role of non-executive chairman of Style.

Mr Lock said he took on the role as a new challenge in his career.

"I have been with CMG for 19 and a half years, and I have been CEO for 11," he said.

"The business is in great shape, revenues are up to $420 million and all our businesses have great growth strategies.

"But for me personally, it is a time where I can hand the company over to someone else knowing there are no problems and take a different tact in my career.

"The attraction of a public company is there, and starting from scratch with almost a blank sheet of paper with a very small team to grow and develop wealth for the shareholders."

Mr Lock has given his board three months notice and will work through with Craig Mostyn until December 18 before commencing in his new role at Style on the first working day after January 1.

Transitioning from Craig Mostyn Group, which produces fresh pork, seafood, protein meal, tallow and fruit products, Mr Lock said Style will be focused mainly on seafood.

"Styles has no plans to invest in the pork or red meat industry," Mr Lock said.

"But Style certainly has a growth agenda.

"That is likely to be around protein, it will start in seafood protein and then look beyond those at some point in time.

"But at this point we have not done a strategic plan.

"There will be opportunities across the agribusiness sector that become available for Style.

"What I like about agribusinesses, are they are businesses that have supply chain control and have domestic and export markets," he said.

Style will be looking for new premises in the Fremantle area, which it hopes to acquire before the end of the year.

Style will seek the approval of shareholders to change its name to Mareterram Limited.

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