ASX listed Alterra is laying the groundwork for the expansion of its agribusiness with the appointment of veteran agricultural executive Oliver Barnes as the incoming Managing Director to strengthen its executive team.
This follows the successful demerger of its carbon forestry business that it will continue to manage under contract.
Mr Barnes will join the company as an Executive Director with effect from 11 January 2019 and will be appointed as its Managing Director by 2 April 2019, following a notification period.
Andrew McBain will remain as Alterra’s Managing Director until the changeover occurs, after which he will stay on as an Executive Director of the company.
Mr Barnes was Chief Operating Officer of privately‐owned WA Sandalwood Plantations from March 2015.
His responsibilities included managing relationships with key institutional asset owners; implementing enterprise resource planning systems and driving productivity gains across 13,000 hectares of sandalwood located in the Central Wheatbelt of Western Australia.
He was also part of the team that established Dutjahn Sandalwood Oils, a 50% indigenous-owned sandalwood oil distillation business, that is now a leading supplier of sandalwood oils to the fine fragrance industry.
Prior to this, Mr Barnes served as the Commercial Manager at Avenira, formerly Minemakers, from 2013 and was part of the team that oversaw its restructure.
The company added that Non-Executive Director Neil McBain will resign from his position with effect from 11 January 2019.
Alterra Chairman Trevor Stoney said: “Oliver’s skillset and experience in developing high value, institutional grade agricultural assets will be invaluable as the company seeks to capitalise on the opportunities it continues to advance.”
“He is well versed in realising value from agricultural development opportunities, understands the WA agricultural industry and has extensive experience in improving agribusiness management.”
Alterra holds a quality patch of freehold farming land north of Perth and has also been reviewing dairy opportunities in Queensland.
It also has a stable income stream from its 15% in Carbon Conscious Investments, which now owns the carbon forestry business.
