Monday, February 26, 2024

McBride to chair Sydney Markets Limited

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Fonterra chair to helm one of southern hemisphere’s largest food distribution centres.
Fonterra chair Peter McBride says moving to the new flexible shareholding structure will keep the co-op on track to meet its 2030 strategic goals.
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Peter McBride has been appointed chair of Sydney Markets Limited.

The Fonterra chair will take up the position this month, succeeding John Pearson, who retired last year after chairing Sydney Markets Limited (SML) for 19 years.

SML consists of Sydney Produce Market, Sydney Flower Market and Sydney Growers Market, comprising of more than 700 businesses that sell fresh fruit, vegetables and cut flowers supplied by over 20,000 local and interstate growers.

It is the largest wholesale fruit, vegetable and flower markets in Australia and one of the largest food distribution centres in the southern hemisphere.

An estimated 2.5 million tonnes of fresh fruit and vegetables, valued at $3 billion, are sold through Sydney Produce Market and Sydney Growers Market and $100 million of fresh produce is exported from SML annually.

In a statement on SML’s Facebook page, McBride said he is honoured to serve the shareholders of an iconic Australian institution.
“I’ve spent a significant amount of my governance career in agribusiness, particularly large exporters and co-operatives. As a result, I have deep empathy with the shareholders of Sydney Markets and understand that the markets are an extension of their businesses.
“I look forward to working alongside shareholders and my fellow directors to bring the transformative change that is required to ensure the continuation of Sydney Markets’ legacy.”
SML said the appointment marks a new chapter as it continues to play a pivotal role in Australia’s agricultural supply chain and community markets.

McBride’s proven track record of delivering shareholder value and international agribusiness experience make him an ideal leader for our next phase of growth, SML said.

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