Tassal, Australia’s largest salmon farmer, has announced that long-serving chairman, Allan McCallum, who oversaw the fish farming giant’s rise to prominence will retire from the board in October.
McCallum’s retirement marks the end of more than 16 years as chairman of the Tasmanian-based salmon and seafood company.
Tassal managed to stay profitable despite the coronavirus pandemic-hit of 2020-21, although its net profit after tax of €21.5 million dropped by almost half compared with the previous year. Huon Aquaculture reported a €78.9 million million loss.
According to The Advocate, Board member James Fazzino, who chairs Manufacturing Australia, will replace McCallum as chairman. Fazzino, who joined the company in May 2020, is a former managing director and chief executive of industrial chemicals, fertiliser and explosives manufacturer Incitec Pivot Limited and a director of Rabobank Australia and energy company APA Group.
“James will bring tremendous experience, knowledge and enthusiasm to the position,” McCallum said.
The company continued to “grow operationally and deliver strong execution across all controllable factors” in 2020-21, Mr McCallum and Mr Ryan said in Tassal’s annual report.
“Tassal’s diversification strategy, focus on driving operating efficiencies and lowering costs, risk management systems and business continuity planning, cashflows and strong balance sheet supported the company navigating through a volatile COVID-19 operating environment.
“Like other global and domestic seafood companies, Tassal experienced significant pricing volatility in financial year 2021 due to COVID-19 and resulting restrictions and market fractures, particularly in global/export markets.”