Shares in Fleetwood tumbled lower today after the company announced the immediate exit of managing director and chief executive Bruce Nicholson, with chairman John Klepec taking the reins.
Fremantle-based livestock vessel operator Wellard will sell its last remaining ship and consider delisting from the ASX, in a $80m windfall for shareholders.
Wellard shares closed up 118 per cent on Monday, following news that it will sell its oldest livestock vessel, the M/V Ocean Ute, to Bassem Dabbah for $US12 million, or $18.1 million.
Shares in Fremantle-based agribusiness Wellard were up as much as 37 per cent on news it could receive up to $16.5 million following a three-year contract dispute.
Our board moves wrap includes Clayton Witter, Christian West, Tricia Klinger, Howard Rae, Phillip Campbell, John Klepec, Christiaan Jordaan, and Ian Daymond.
Today's board moves wrap includes Jason Bontempo, Alex McCulloch, Rodney Johns, Geoff Greenhill, Warwick Davies, John Klepec, Patrick Burke, David Frances, David Minchin, and Douglas Huey.
Financially strapped live exporter Wellard is cutting its fleet size from four to three with the sale of the world's largest purpose-built livestock carrier for $US53 million ($A77 million).
Wellard's full-year loss has widened by 33 per cent to $48.4 million after the cattle exporter was hit by Turkey's halt on live feeder imports and large impairments.
Wellard has posted a $2.9 million profit for the six months to December, up from a $7.4 million loss in the previous corresponding period, and its first profit since listing on the ASX over three years ago.
Wellard shareholders have given the cattle exporter's remuneration report a strike for the second time in three years at today's annual meeting in Fremantle.
John Klepec, current chair of Wellard, has been appointed interim executive chair and will take over the management of the company's day-to-day operations.
Livestock exporter Wellard has appointed current chairman John Klepec as interim executive chairman, after executive director of operations Fred Troncone resigned.
