Agricultural chemicals maker Nufarm (ASX:NUF) says former Telstra chairman, Donald McGauchie has been confirmed as the new chairman of the company.
Yesterday, current chairman Kerry Hoggard announced his retirement due to health reasons In a statement to the ASX, it was revealed that Mr Hoggard had told the company he would be unable to fulfil his chairman and director duties over the short term and that he wishes to spend more time with his family.
New chairman McGauchie has been a director of Nufarm since 2003 and the company says he brings with him a thorough understanding of the agricultural sector and international business to the role.
He takes on the role at time when the company is looking to rebuild its profitability and growth profile.
Nufarm reported a profit of $79.88 million for the year ending 30 July 2009.
NUF Price at posting:
$5.24 Sentiment: None Disclosure: Held
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