New owner JBS promotes former CEO’s deputy to the top spot at Huon Aquaculture.
Philip Wiese, who spent the last 11 years as deputy CEO of Huon and the three before as chief financial officer, has taken over as CEO.
The AU$425 million (US$321 million) takeover by JBS was approved by the Federal Court of Australia on Tuesday and the company will cease trading on the country’s stock exchange on Wednesday.
Last week, the shareholders in Huon, including mining billionaire Andrew Forrest, approved the takeover by JBS.
Forrest, who bought into Huon earlier in 2021, will pocket roughly AU$12 million from the sale. Peter and Francis Bender, the couple who founded and built up Huon, and together controlled just over 50 per cent, will net AU$220 million.
On 25 October, Australia’s foreign investment review board paved the way for the JBS takeover by approving the deal, which will mark the Brazilian firm’s entry into salmon farming and processing.