Newman sets date to step down

Newman sets date to step down

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The leadership of CBH Group chief executive officer Jimmy Wilson (left) and chairman Wally Newman been questioned.

The leadership of CBH Group chief executive officer Jimmy Wilson (left) and chairman Wally Newman been questioned.

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CBH Group chairman Wally Newman said the new three-year term would be his last as a director.

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AFTER retaining his seat in the District 4 election early last week, CBH Group chairman Wally Newman announced the new three-year term would be his last as a director.

When making the announcement at the CBH Group's annual general meeting last Thursday night, he said the board had been working for many years on succession planning and said he would not be seeking re-election in 2023.

"At some point during this term, we will seek to have a smooth and professional transition of the board leadership of your co-operative," Mr Newman said.

"I am proud of my achievements during my 20 years on the board including the past six as your chair."

Mr Newman also addressed the complaints made about his use of inappropriate language towards women at an industry function in the Eastern States in 2017.

"CBH has strict protocols in relation to these matters and the complaint was fully investigated by an independent, third party investigator," he said.

"The board received recommendations from the investigator which resulted in me voluntarily undertaking personal coaching."

Furthermore, Mr Newman made it clear to those in attendance that at no time did he say would not contest the most recent election.

"No deal was done and it has always been my intention to run in this election," he said.

"I am humbled to have been re-elected to the board and I look forward to continuing to represent all WA growers."

Only about 10 per cent of grower members attended the annual general meeting in person, with some saying it was the most fiery meeting they had been to.

Some other growers also watched a livestream of the meeting via the CBH LoadNet platform.

Mr Newman, along with Ken Seymour who won the District 1 contest and John O'Neil, who won in District 2, were formally appointed to their positions

CBH chief executive officer Jimmy Wilson told growers it was a tough year in the Marketing and Trading division, with a number of factors contributing to a $119.3 million loss.

"It's important to remember that in good marketing years, Marketing and Trading returns value to Western Australian growers, rather than international investors or multi-nationals," Mr Wilson said.

"Despite last year's loss, over the past 10 years, Marketing and Trading has generated a cumulative net profit after tax and before rebates of $96.8m and returned rebates totalling $157.2m to growers.

"As part of the co-operative, Marketing and Trading plays an honest broker role in grain pricing for Western Australian growers and provides confidence that the State's grain market operates fairly and transparently."

The first CBH board meeting including the new directors will be held in April.

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