Chief Executive Officer, Kim Lindsay, has announced his retirement from Lindsay Australia .
Lindsay, with the full backing of the Board, officially steps down on 30 June 2023.
A central figure behind much of the growth of the business, Lindsay had given Lindsay Australia 20 years of uninterrupted and distinguished service as CEO.
Having worked for Lindsay Brothers Transport from 1974 to 1983, Lindsay went on to establish P&H Rural Supplies Pty Ltd in 1983.
As Managing Director of PHRS, Lindsay was responsible for expanding the business from a small local operation to a major regional business, serving as the foundation for the current Lindsay Rural division.
Ever since P&H Rural Limited and Lindsay Brothers Holdings Pty Ltd were merged including its subsequent listing on the ASX in December 2002, Lindsay has served as Managing Director and CEO of Lindsay Australia.
Under his leadership, Lindsay Australia has risen to become one of Australia’s largest transport companies employing over 1,500 employees.
During his time as CEO, Lindsay Australia has grown from operating revenue of $144.3 million and EBITDA of $12.3 million in 2003 to revenue of $553 million and EBITDA of $60.1 million in FY2022.
The company is currently on track for a record year in FY2023 with EBITDA forecast to be in the range of $68 million to $71 million.
“There is no question that Kim will leave Lindsay Australia well-positioned to achieve the Group’s significant ambition of reaching annual revenue of $1 billion and EBITDA of $100 million whilst driving shareholder returns over the coming three to five years,” the company said in a statement today.
“The board will consider internal and external candidates in its CEO search and has retained a leading recruitment firm to assist with the process.
“After an appropriate break, the board will engage with Kim regarding an on-going non-executive role with the company.”
In related news Lindsay Australia just reported uplifts in revenues and profits for the half-year ending 31 December 2022.
