SYDNEY, AUSTRALIA — As the demerger of GrainCorp Ltd. progresses, the company prepares to make changes to its leadership.

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 and will assume the role of chairman if the demerger proceeds.

The company is also in search of a successor to Mark Palmquist, current managing director and chief executive officer (CEO) of GrainCorp. Following the implementation of the proposed demerger, Palmquist will be appointed to managing director and CEO of MaltCo.

“The search is canvassing external and internal candidates and follows the decision of GrainCorp’s chief operating officer, Kraus 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,” the company said.

As GrainCorp announced on April 4, the demerger is expected to implemented by way of a scheme of arrangement subject to shareholder, GrainCorp board and court and regulatory approval.