ELDERS has initiated some significant changes in its senior management structure, including separating its rural real estate division.

The changes will see the departure of several senior staff, including Queensland-Northern Territory state general manager Lisa Hewitt and Victoria-Riverina state general manager Brendan Rinaldi.

Following a comprehensive strategic and operational review, the Elders Board had resolved to implement the structural changes to further strengthen its new divisional model, staff were told this week.

The moves have been designed to position the business for future growth and operational efficiency.

A new standalone Elders Real Estate Division will be established, joining the existing divisions of Elders Rural Services, Elders Crop Protection, Australian Independent Rural Retailers, Feed and Processing, Delta Ag as subject to ACCC approval, and Corporate.

History shows major pastoral houses like Elders and Nutrien and rural lenders often swing from state-based to larger regional management structures.

Tom Russo.

Elders managing director and chief executive officer Mark Allison announced that Tom Russo had been appointed divisional CEO of Elders Real Estate.

“Elders Real Estate has achieved remarkable growth in recent years, and with Tom’s considerable expertise and leadership, the Real Estate entity will be perfectly placed for further advancement,” Mr Allison said.

Mr Allison will assume the role of divisional CEO for Elders Rural Services for the next 4-6 months “to ensure a smooth transition and continuity of leadership.”

A permanent appointment will be made in due course.

Elders Rural Services will move from a state-based to a regional structure, led by regional general managers as follows:

• Northern covering Qld, NT, and New South Wales led by Ryan Robinson;
• Southern covering Victoria, Riverina, Tasmania, and South Australia led by Bernard Seal; and,
• Western covering Western Australia led by Matt Ericsson.

Changes are effective from October 1, aligning with the start of the company’s trading year.

As a result of this transition to a regional model, state general manager roles previously filled by Ms Hewitt and Mr Rinaldi are no longer required, staff were told.

“Both Lisa and Brendan have worked tirelessly to grow and develop their respective State businesses in difficult market conditions.

“Their efforts and contributions are appreciated greatly, and they have the best wishes of Elders for their future careers.

“Our new divisional structure marks a significant evolution of the Elders business, and sets the direction for the next phase of our journey together.

“It is reflective of the substantial growth we’ve achieved through the hard work of our network over many years.”

Elders issued this statement on Tuesday:

Elders is implementing a new business structure to drive overall improvement to business outcomes through streamlined and focused management of Elders’ entities.

This new structure marks a significant evolution of the Elders business. It is reflective of the significant growth that the company has achieved through the hard work of its diverse network over many years. It is a signal for the direction the business is heading in the future as an organisation that prioritises its people and agricultural communities while delivering for shareholders.

There have been many iterations of Elders, from our whiskey and seed trading origins, expansion across farming and mining, through to unsustainable expansion, and then a return to pure play agribusiness under the Eight Point Plan. The new entity structure sets the direction for the next phase of Elders’ journey.

Elders Real Estate has achieved remarkable growth in recent years, welcoming a significant number of new offices into its network and expanding the capacity of existing sites In FY24, real estate contributed $83 million in gross margin, which is a 36 per cent increase year on year. The team sold over 12,000 properties, at a total value of $8.4 billion, and almost 80,000 properties are under company office and franchise management. The ERE entity will now have standalone guardianship under the considerable expertise of Tom Russo to position it for further growth.

The above changes will become effective from 1 October, aligning with the start of the FY26 trading year.

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