Executive Changes, Transport News

Lindsay Australia CEO to retire

The figurehead of giant Lindsay Australia plans to step away from the company throughout this year

Major transport, logistics and freight company Lindsay Australia has announced that CEO and managing director Kim Lindsay will step away from the company as he transitions into retirement.

Lindsay Australia says Lindsay is retiring after first starting with Lindsay Australia in a stint from 1974 until 1983.

Lindsay Australia says that Lindsay’s leadership has been central to the company’s success.

“He has been central to the growth of the business and has given Lindsay Australia 20 years of uninterrupted and distinguished service as CEO. During his leadership, Lindsay Australia has risen to become one of Australia’s largest transport companies employing more than 1500 employees,” Lindsay Australia says.

“Kim’s time as CEO has also seen Lindsay Australia grow 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 and is currently on track for a record year in FY2023 with EBITDA forecast to be in the range of $68 million to $71 million.”

After Lindsay’s first stint with the company lasting until 1983, he established P&H Rural Supplies (PHRS), where he was able to grow the small local business to a major regional company that laid the foundation for Lindsay’s current rural sector.

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Lindsay has since been managing director and CEO of Lindsay Australia since the merger of PHRS and Lindsay Brothers Holdings in December 2002.

Lindsay Australia says Lindsay will finish with Lindsay Australia on June 30, as the company now searches for his replacement.

“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,” Lindsay Australia says.

“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.”

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