GrainCorp Limited announced of its intention to demerge its Malt business. Graham Bradley AM will be appointed as Chairman of the Malt business ("MaltCo") if the Demerger proceeds. Peter Richards has been appointed as Deputy Chairman of GrainCorp with immediate effect and he will assume the role of Chairman of GrainCorp if the Demerger proceeds. GrainCorp also advises that it has commenced an international search for a successor to Mark Palmquist as Managing Director & CEO of the Company following Mr. Palmquist's future appointment to Managing Director & CEO of MaltCo following implementation of the Demerger. The search is canvassing external and internal candidates and follows the decision of GrainCorp's Chief Operating Officer Klaus Pamminger to remain in the COO role post-Demerger and focus on successful delivery of the substantial opportunities identified through the integration of Grains and Oils.