Wally Newman quits the board after being overlooked for chairman’s role
CBH chairman Wally Newman has sensationally quit the board just weeks after being re-elected to a fresh three-year term.
Mr Newman’s resignation comes after he was overlooked for the chairman’s position in a vote of board members yesterday.
His hopes of maintaining the chairman’s role were dented during a bitter board election campaign when former director John Hassell accused him of making inappropriate comments to a woman at a grains conference in 2017.
Mr Newman, pictured, apologised for his actions after being re-elected to the board on February 17 and said he hoped to continue as chairman.
But at yesterday’s board meeting, Mr Newman was replaced by his former deputy, Cascade farmer Simon Stead, ending his six-year stint at the helm.
Kondinin farmer and CBH’s first female board member, Natalie Browning, was elected deputy chair.
Mr Newman had flagged this term as his last after 20 years of service.
His resignation has left a question mark over who will would replace him, with CBH yesterday unable to confirm whether it would now call a by-election to appoint a successor, or hand the position to second-place finisher, Lake Grace farmer Shane Carruthers.
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