WA’s biggest wine producer and a former lieutenant of Andrew Forrest have both been put in charge of project managing the next stage of an avocado development in the South West. Alterra announced today corporate advisory firm Pendulum Capital has been engaged to project manage the planting of stage two of its Carpenters Project, which will eventually see 300ha of avocados planted at Pemberton. The news came as Alterra also revealed it had lost its chief executive. Pendulum is led by prominent wine operator and vineyard owner Peter Fogarty and Greg Harvey, who was most recently chief executive of Mr Forrest’s Harvest Road agriculture business. Pendulum has links with Penagri Holdings, which owns a 17.42 per cent stake in the business. Stage two of the project involves planting 24,000 trees across 52ha. Ground preparation will resume in late winter, with planing to be completed by late 2021. Stage two follows the initial 5ha research and development planting in 2020. Pendulum’s engagement will start immediately and run through until November. It will receive a $320,000 fee through cash and shares. Alterra also revealed that chief executive Oliver Barnes was leaving the business, effective immediately as it “restructured management of the company to more appropriately align with Alterra’s project delivery focus”. Chairman John McGlue and non-executive director and company secretary Mark Clements will assume executive roles while the company conducts search for a replacement, who will be charged with overseeing the corporate entity and assessing other opportunities across the horticulture and agriculture sectors. Alterra, a develop and manager of agricultural land and water assets, also intends to appoint a new general manager for Carpenters in coming months. Alterra’s share price was down 2.3 per cent at 0.43¢ at the close, giving the company a market cap of $12.13 million.