The Board of GrainCorp Limited announce that it has appointed Robert Spurway to take up the role of Managing Director and CEO after completion of the planned demerger of the Company's Malt business in early 2020. Mr. Spurway is currently employed at the Fonterra Co-operative Group, where he has held the position of Chief Operating Officer, Global Operations for the last six years. In this role, he led Fonterra's global operations business and had responsibility for the Group's manufacturing and supply chain operations.

Mr. Spurway has more than 25 years' experience in the food and dairy industries, including multiple senior operational roles with both Fonterra and Goodman Fielder Australia, and CEO positions with Salad Fresh and Mrs. Crocket's Kitchen. As previously announced, GrainCorp's current CEO, Mark Palmquist, will become Managing Director and CEO of the Malt business upon a successful demerger vote by GrainCorp shareholders at the Company's Extraordinary General Meeting and subsequent Court approval. He will relocate to the North American headquarters of Malt in Vancouver, Washington.

Robert Spurway has been Chief Operating Officer, Global Operations for Fonterra Co-operative Group since August 2014. In this role he had executive leadership responsibility for the Global Operations business unit, comprising 10,000+ staff and 50+ operating sites across multiple markets. Mr. Spurway has recently held the roles of Chairman of Kotahi Ltd, Deputy Chairman of Sociedad Procesadora de Leche del Sur S.A., (Prolesur) Chile, and Director of DFE Pharma GmbH & Co, and will resign from these roles on his departure from Fonterra.