GM Departure

Extract of Article in the 'THE AUSTRALIAN' by Tansy Harcourt
SHOCK DEPARTURE OF KEY MAN AT FOREST-BACKED AACo
One of the most influential executives in the northern Australian beef industry, Michael Johnson, has suddenly left the nation’s biggest cattle ranching business AACo.
The shock exit of Mr Johnson, known as MJ, is said to have left staff at AACo reeling given he exited without apparent notice and the publicly-listed company kept a lid on the development.“I’m simply going to focus on my own career,” he told The Australian on Tuesday. The exec would not say why he left, nor comment on whether he was asked to leave.
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Mr Johnson had worked at AACo for 15 years and as general manager for pastoral operations he was the most senior executive overseeing its rangelands and pastoral business across the Gulf and NT. He was also in charge of most of the workforce, most of the cattle and most of AACo’s stations.On top of this role, he was a prominent figure in the NT and Northern beef industry and is the deputy chair of the Barkly Branch of NT Cattlemen’s Association.A company spokesperson declined to comment.
The shock departure adds to the intrigue that surrounds the 201-year-old AACo.The Brisbane-based company has always been a billionaire’s plaything. The Forrests, who made their fortune in the Pilbara, snapped most of their shareholding up from the Holmes a Court family, while wealthy retailer Brett Blundy – the man behind the Lovisa jewellery chain – was also once a significant investor.
The fact that the stock hasn’t paid a dividend in 17 years has deterred few.
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