Lock to chair Mareterram as Hutchinson retires

Seafood business Mareterram has announced a leadership reshuffle following the retirement of chairman Peter Hutchinson.

South Fremantle-based Mareterram said today that Mr Hutchinson would retire next month to focus on his other commercial interests, with his role to be filled by managing director and chief executive David Lock.

Chief operating officer (and former AFL footballer) James Clement has meanwhile been promoted as acting chief executive, with the changes to come into effect after Mareterram’s annual general meeting on November 23.

“I am extremely proud of the Mareterram team and the quality company that we have grown over the past two years since the change in the company’s focus,” Mr Hutchinson said.

“David’s knowledge of the agribusiness sector and leadership has been invaluable to our growth plans.

“Handing over the chairman’s role to him was an easy decision and I look forward to the future as a supportive shareholder.”

Mr Lock said he was excited by the challenges ahead.

Mareterram began trading on the ASX in January last year after raising about $18 million from investors and completing a major corporate restructure.

The company was born out of the acquisition of Nor-West Seafoods for $20 million and Craig Mostyn Group’s food services division for $8.75 million by Style, a shell company led by Mr Hutchinson and Mr Clement.

Mareterram shares were unchanged at 30 cents each at midday.