The face of the Australian Dairy industry is set to change with the announcement by Murray Goulburn Managing Director, Stephen O'Rourke, that he will retire in July 2011. The news was conveyed to MG staff and shareholders yesterday and no doubt will be a shock to them and to the rest of the Australian Industry.

Stephen O'Rourke has been 23 years with Murray Goulburn, 17 years as a Director and 12 years as Managing Director. He has been a major force in the company development and culture. Since coming to prominence as a manager and Director, MG revenue has tripled, and shareholder equity has quadrupled, and milk intake has increased from about 2 billion to 3 billion litres.

O'Rourke has steered MG through industry deregulation and the regular down cycles of the global dairy industry - the GFC of 08/09 being the most difficult of these. While the other major dairy co-operatives have transferred control to private capital, MG has stood like a beacon maintaining a co-operative structure and philosophy.

The MG Board has some time to consider the matter of a replacement but there are big shoes to fill and it won't be an easy task.

Xcheque.com, November 6th 2009