LIVESTOCK industry champions David and Prue Bondfield are stepping back from daily operations at Palgrove, with both to remain as directors of the large scale genetics company.
The decision follows the development of Palgrove as one of the largest seedstock and commercial producers in Australia, with significant land assets across Queensland and NSW.
Mr Bondfield said well-planned business succession was critical to the success of an innovative enterprise like Palgrove.
"Our generationally proven genetics will continue to play a key role in the future growth," Mr Bondfield said.
"This is just the next step in that process."
Mr Bondfield said it was business as usual, with genetics and business development manager Ben Noller to drive the company breeding and sales program.
The business focuses on Charolais, Ultrablack, Brangus, Angus, Charbray, and Charolais composite cattle.
Mr Bondfield will retain his governance responsibilities and remain as chief executive officer until the vacancy is filled. He will then continue to provide advisory support to the business.
Palgrove formed a partnership with the New Zealand Superannuation Fund in 2017 giving the business the capacity to grow cattle numbers to meet increasing demand, and to leverage their quality genetics into Palgrove's own premium commercial beef production systems.
"Continuing to build scale has been a challenge during the drought, but we see enormous opportunity for the business to meet its growth objectives in 2020," Mr Bondfield said.
Palgrove Management board chair Leith Boully said David and Prue had built a successful livestock business by focusing on quality livestock, property management, staff relationships, and by responding to their clients' needs.
"The value David has created around relationships is a key element to the success of Palgrove, and the board wants to build on what he has done by introducing a new CEO with similar personal qualities and commitment to clients," Ms Boully said.
"Fortunately, we are not losing his knowledge, insight and relationships."
A recruitment process is now underway through Rimfire Resources to appoint a new chief executive officer lead to the Palgrove business.
