New board jumps into action

At that meeting, company CEO Ron McCalman accepted an offer from the board to remain with the company beyond June this year.

Mr McCalman had, in December last year, tendered his resignation from the company.

An MIL statement at the time said Mr McCalman’s resignation coincides with the completion of the company business strategy and the company pivoting to “collaboration and stakeholder engagement to support change”.

He was to depart at the end of this financial year.

In the months that followed, a breakdown in the board became evident when three directors - Steve Fawns, Troy Mauger and Brendan Barry - moved to have the board’s two independent directors removed.

After several attempts at mediation, it eventually resulted in an annual meeting on April 10, at which the majority shareholders voted to save non-shareholder directors Trish Gorman and Robert Burbury.

This triggered the resignations of the requisitioning directors effective immediately, leading to the appointment of Geoff McLeod, Gabrielle Coupland, Leanne Small and Noel Graham to fill the board last week.

When asked by the Pastoral Times, MIL chairman Phil Snowden said Mr McCalman’s continuation with the company did not necessarily mean his resignation had been withdrawn.

“The extension of Ron McCalman’s tenure with the company is neither temporary nor a withdrawal of his December resignation,” he said.

“Ron accepted an offer from the board to continue in his role after 30 June 2024, and will commence that position from July 1, 2024.

The full constituted board also ratified Mr Snowden’s continuation as chairman and Lachlan Marshall remaining as deputy chair, and appointed board members to lead the various committees.

“I would like to congratulate Trisha Gorman on being reappointed as the chair of REMCO (Remuneration and Nominations Committee), Robert Burbury on being reappointed as the chair of ARMCO (Audit and Risk Management Committee) and Geoff McLeod on his appointment as the chair of the Water Policy and Management Committee,“ Mr Snowden said in a post-meeting chair’s update.

Mr Snowden also outlined the board’s decisions in relation to the 2025 year budget, the resource mangement strategy and capital expenditure.

“As promised during last year’s business modernisation review, fees and prices increases are capped at CPI, which is 3.5 per cent, aside from government pass-through charges,” Mr Snowden said.

“The board has approved $7 million in temporary water sales for the 2025 financial year.

“This reduction on the targeted $10.8 million, which was announced during the business review last year, is due to the strong investment and business performance returns achieved during the 2024 financial year.

“The reduction in water sales for the coming financial year will still allow the company to achieve its investment fund growth of $54 million over five years, a key tool in our intergenerational strategy.”

Mr Snowden said those temporary water sales would be capped at 80 giglitres on an annual basis, and further information on the 2025 Sustainability Product will be provided to customers early in the irrigation season.

The board also approved a capital expenditure budget of $8.5 million for the 2025 financial year.

“This aligns with the targets set for capital investment as part of the business review and will ensure the company delivers on its commitment to extend asset life and invest where required,” Mr Snowden said.

“I’d like to thank all Murray Irrigation staff for their focus over the last few months and for ensuring the smooth delivery of water for our customers in one of the best seasons in a long time.

“There is still a lot of work for the board to do over the coming months, and I look forward to keeping shareholders updated after our next board meeting which is scheduled for late June.”