Brendan Stewart succeeds Flugge as AWB chairman

by Chrystal Shannon
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MELBOURNE, AUSTRALIA — AWB Ltd. has named Brendan Stewart as chairman, succeeding Trevor Flugge. Robert Barry was reelected by the board as deputy chairman.

In accepting the position, Mr. Stewart, who operates a 7,900-acre property at Chinchilla, Queensland, said it would be a privilege to be chairman of AWB Ltd., particularly during a time when the company is in a strong financial position.

AWB forecasts a strong after-tax profit of A$100 million (U.S.$52.3 million) to A$110 million (U.S.$57.5 million) for the year ending Sept. 30, 2002.