Agricultural investment company AACL Holdings has announced the appointment of Peter McEwen as the company's executive chairman and chief executive officer.
In June managing director Andrew McBain resigned amid questions about the company's financial viability.
His resignation came a week after AACL announced that negotiations with CBH Grain over a crucial $50 million wholesale funding deal had gone awry.
Mr McEwen comes to the role from Summit Fertilizers where he was the chief executive for 18 years.
His initial priorities will involved the further development of the key strategic relationship with Glencore Grains.
AACL and Glencore recently executed a funding and grain marketing agreement for AACL's Grain Co-Production product for the 2010-11 planting season.
"I am looking forward to playing a key role in developing the AACL business," said Mr McEwen.
"I see an exciting future for AACL and believe that through further enhancement of the Grain Co-Production model, AACL will become a major source of funding for farmers in the Australian grains industry over the coming years," he said.
