The new ownership group behind S Kidman & Co has announced that CEO Greg Campbell will retire after nearly two-and-a-half decades with the firm.
Campbell led the firm through a two‐year sales process, which led to the Australian government’s final approval in December of the A$386.5 million sale of the company to the joint venture company Australian Outback Beef. AOB is a joint venture owned 67 percent by Hancock Prospecting – owned by Kidman head Gina Rinehart, Australia’s richest woman – and 33 percent by Shanghai CRED.
In a statement announcing the retirement, Hancock Prospecting said that new shareholders have also approved a multi-million dollar capital development plan to re‐position the company.
“This will be achieved through a number of measures, including: rebuilding the herd after a number of poor rainfall years, increasing sustainable carrying capacity, introducing new technologies for efficiency and productivity, evaluating the introduction of a branded Kidman beef product and implementing industry leading safety and animal welfare standards,” the firm said in the statement.
Campbell started as a ‘landcare manager’ with Kidman 24 years ago, was appointed CEO in 2001 and continued to lead the company in that role for the following 16 years. He will remain CEO and assist in the transition period until he is replaced.
Kidman is one of Australia’s largest beef producers, with pastoral leases covering 101,000 square kilometres across the states of South Australia, Western Australia, Northern Territory, and Queensland. At the time of sale, the portfolio consisted of 19 individual properties operated as 12 enterprises: 10 cattle stations, a bull breeding stud farm and a feedlot.
Campbell was not available for comment in time for publication.