ELDERS has initiated some significant changes in its senior management structure, including separating-out its rural real estate division.

The changes will see the departure of several senior staff, including Queensland/NT state general manager Lisa Hewitt and Victoria/Riverina state general manager Brendan Rinaldi.

Following a comprehensive Strategic and Operational Review, the Elders Board had resolved to implement the structural changes to further strengthen its new divisional model, staff were told earlier today. The moves were designed to position the business for future growth and operational efficiency.

A new standalone Elders Real Estate Division will be established, joining the existing divisions of Elders Rural Services, Elders Crop Protection, AIRR, Feed and Processing, Delta Ag (still subject to ACCC approval), and Corporate.

History shows that major pastoral houses like Elders and Nutrien frequently swing from state-based to larger regional management structures, and today’s announcement simply continues that cycle. Rural lenders often follow a similar course.

Elders managing director and CEO Mark Allison announced that Tom Russo had been appointed Divisional CEO of Elders Real Estate.

“Elders Real Estate has achieved remarkable growth in recent years, and with Tom’s considerable expertise and leadership, the Real Estate entity will be perfectly placed for further advancement,” Mr Allison said.

Mr Allison himself will assume the role of Divisional CEO for Elders Rural Services for the next 4–6 months, “to ensure a smooth transition and continuity of leadership.” A permanent appointment will be made in due course.

In line with our commitment to simplification and efficiency, there will be some changes made to the Elders Rural Services structure. Elders Rural Services will move from a state-based to a regional structure, led by three Regional GMs, Mr Allison said.

The new regional structure will include:

• Northern region – QLD, NT, NSW, led by Ryan Robinson
• Southern region – VIC, Riverina, TAS, SA, led by Bernard Seal
• Western region – WA, led by Matt Ericsson.

The changes are effective from 1 October, aligning with the start of the company’s FY26 trading year.

As a result of this transition to a regional model, the State General Manager roles previously filled by Lisa Hewitt and Brendan Rinaldi are no longer required, staff were told.

“Both Lisa and Brendan have worked tirelessly to grow and develop their respective State businesses in difficult market conditions. Their efforts and contributions are appreciated greatly, and they have the best wishes of Elders for their future careers,” Mr Allison said.

“Our new divisional structure marks a significant evolution of the Elders business, and sets the direction for the next phase of our journey together. It is reflective of the substantial growth we’ve achieved through the hard work of our network over many years,” he said.

Elders issued this statement this afternoon:

Elders is implementing a new business structure to drive overall improvement to business outcomes through streamlined and focused management of Elders’ entities.

This new structure marks a significant evolution of the Elders business. It is reflective of the significant growth that the company has achieved through the hard work of its diverse network over many years. It is a signal for the direction the business is heading in the future as an organisation that prioritises its people and agricultural communities while delivering for shareholders.

There have been many iterations of Elders, from our whiskey and seed trading origins, expansion across farming and mining, through to unsustainable expansion, and then a return to pure play agribusiness under the Eight Point Plan. The new entity structure sets the direction for the next phase of Elders’ journey.

Elders Real Estate has achieved remarkable growth in recent years, welcoming a significant number of new offices into its network and expanding the capacity of existing sites In FY24, real estate contributed $83 million in gross margin, which is a 36 per cent increase year on year. The team sold over 12,000 properties, at a total value of $8.4 billion, and almost 80,000 properties are under company office and franchise management. The ERE entity will now have standalone guardianship under the considerable expertise of Tom Russo to position it for further growth.

The above changes will become effective from 1 October, aligning with the start of the FY26 trading year.