KIMBERLEY CATTLE KING'S SHOCK EXIT
Jack Burton, has resigned from his Yeeda Pastoral Company empire.
KIMBERLEY CATTLE KING'S SHOCK EXIT
One of the Kimberley’s most prominent pastoralists, Jack Burton, has resigned from his Yeeda Pastoral Company empire.
Mr Burton’s resignation was accepted at a meeting of Yeeda’s board of directors. He will also sell his family’s shareholding in Yeeda to the company's other shareholders.
Mr Burton said he would now turn his attention to building a major new cattle business in northern Australia.
"I am proud of what we have achieved at Yeeda and I thank Mervyn, as chairman and company co- founder, and all the Yeeda team for their support over the years," he said.
"The creation of the Kimberley Meat Company has been an epic journey that we and everybody involved should be proud of.
"The time has come for our family to seek new pastures and devote all our energy to growing other Northern Pastoral businesses.
"In due course we see ourselves becoming a major supplier of cattle to Yeeda’s processing plant, the Kimberley Meat Company, and wish them all good fortune in the years ahead."
Mr Burton and his family will retain ownership of Kilto Station, which Yeeda will continue to lease until December 2020.
Yeeda chairman Mervyn Key, a co-founder of the company almost 20 years ago and its largest shareholder, will take on an executive role effective immediately until Yeeda has secured the services of a new CEO.
The new CEO will be in place in time for the new processing season to begin in February 2020 and to take charge of the next stage of Yeeda's expansion.
"On behalf of the Yeeda Board and all of our staff, I acknowledge and thank Jack for his significant contribution to the company's growth over many years," Mr Key said.
"The Burton family has been an instrumental part of the Yeeda success story and we wish Jack, Vicki and their family all the best as they endeavour to grow their Northern Pastoral businesses."
ABC News: Joshua Spong
