New director to strength live exporter

The latest board addition is former Wellard Rural Exports chief executive officer Fred Troncone, who returns to the publically-listed company as an independent non-executive director.

He is credited with helping build Wellard’s export business from 2009 to before the public float in 2015 when he left to work as a consultant to a range of industries, focusing on digital strategies and business organisational change and transformation.

Wellard chairman David Griffiths said Mr Troncone’s appointment would provide “additional expertise and experience in live export” on the board.

“The board was seeking a specific skillset and Fred possesses that skillset,” Mr Griffiths said.

“He was instrumental in growing the Wellard Rural Exports business from 2009 to 2015 as well as overseeing enhanced reporting and planning systems.

“He is also highly committed to animal welfare.

“Combined with his experience in other relevant sectors, such as the banking industry, Fred will be a significant contributor to the board.

“Key shareholders were consulted during the board’s due diligence process and all were very supportive of Fred’s appointment.”

Mr Troncone’s business experience spans Australia, South East Asia, China, Europe, Russia and the Middle East.

He is an Australian Institute of Company Directors graduate and holds a degree in business information systems and a masters in business administration.

Last month Wellard appointed Chinese businessman Kanda Lu as an executive director to replace Greg Wheeler who retired from the board in April.

Mr Lu is assistant to the chairman of Wellard’s major shareholder Fulida Group Holdings, which holds 24.46 per cent of issued Wellard stock and entitlements.

He is Wellard’s head of China Initiatives and managing director of Wellao, Wellard’s Chinese subsidiary responsible for developing and growing its entry into the Chinese beef cattle market.

Last November Wellard appointed former Hancock Prospecting chief development officer John Klepec as an independent non-executive director.

About the same time a new chief financial officer and chief operating officer were also announced.

A shipment of 10,000 sheep to Oman last month marked the return of Wellard to the Middle East Gulf region live trade after a hiatus of almost two years.

But plans to initiate slaughter cattle exports into China by June this year are running behind schedule.

Work to convert the 340 hectare farm Clonlee at Condah in western Victoria to a pre-export quarantine facility is continuing.

It will become Wellard’s base to secure and induct beef and dairy cattle from Victoria, South Australia and southern New South Wales to meet China’s stringent quarantine access requirements, as well as for other markets.

Cattle will be shipped from Portland, 60 kilometres from Clonlee.

As reported last week in Farm Weekly, WGH Holdings, a company associated with Wellard’s second largest shareholder and managing director Mauro Balzarini, is selling La Bergerie, a 334ha live export sheep holding facility at Baldivis that is leased by Wellard.

The asking price is believed to be $32 million.

Specialist funds manager Sirona Capital has contracted to acquire the property from WGH by private treaty and plans over the next eight years to rezone it to urban in preparation for redevelopment as up to 3760 house lots.

In the meantime it will continue to be leased by Wellard as an Australian Quarantine and Inspection Service (AQIS) accredited facility.

capable of holding 75,000-80,000 sheep with automated feed and watering systems and a shearing capacity of 3600 sheep a day.

Other WGH properties reputedly for sale off-market include the former AQIS accredited Stirling cattle holding yards in Hazelmere and The Grange, a premium 16,500ha livestock and cropping property east of Dongara.

Both have also been leased by Wellard previously.