NATIONAL rural agency network Elders has announced another round of redundancies, in the wake of last week’s regional management restructure.
As published last week, Elders has reconfigured its management structure, dividing state-based operations into Northern, Southern and Western Australian regions, and separating out its real estate division to operate independently.
As part of that process, Queensland/NT state general manager Lisa Hewitt and Victoria/Riverina state general manager Brendan Rinaldi lost their jobs.
Last week, another round of redundancies were made among Queensland-based staff.
Elders is due to complete its full financial year at midnight tonight (30 September), with results released in six weeks. Some have interpreted this week’s actions as a ‘pre-emptive strike’ to appease shareholders over results coming later this week.
This week’s departures, effective immediately include:
- Craig Ward – Qld/NT State Finance & Operations Manager – a 30-year Elders employee
- Nathan Surawski – Qld/NT Rural Products Manager
- Tim Lane – Qld/NT State Real Estate Manager
- Jacob O’Brien – Qld State Rural Products Specialist
- Richard Bright – Central Qld Area Manager for Elders, who joined the company from Nutrien only in 2023
- Jenny Freney – Inventory Coach.
Newly appointed northern regional manager Ryan Robinson acknowledged their efforts in leading and supporting Elders QLD/NT business over many years.
“All have handled themselves professionally and being offered a redundancy is no reflection on themselves personally or their performance,” he told staff.
“Redundancies can create a lot of uncertainty for everyone, but I just want to make clear that everyone impacted has been spoken to and there will be no further redundancies in Elders Rural Services QLD/NT.”
Perhaps the most surprising of all is the departure of Qld/NT State Real Estate Manager, Tim Lane.
Mr Lane joined Elders two years ago from a high-profile position as national director of agribusiness and advisory with prominent rural valuers, Herron Todd White, where he had worked for the previous 12 years.
Newly promoted divisional CEO of Elders Real Estate, Tom Russo, said in the company’s 2024 financial year, real estate had contributed $83 million in gross margin, a 36 percent increase on the previous year. Elders sold more than 12,000 properties representing a value of $8.4 billion over the full year, with almost 80,000 properties under company office and franchise management.
“Building on these achievements, I’m delighted that Elders Real Estate will stand as its own entity within our new Elders structure,” he told staff.
“In particular, I would like to acknowledge the outstanding contributions and leadership of our two General Managers, Belinda Connor and Mark Barber. Under the new entity structure, Belinda and Mark will remain in their roles (with expanded operational responsibilities) and continue to play a pivotal part in driving the business into the next stage of our evolution.”
In recent times Elders has also invested in building its commercial real estate expertise, including appointing a high calibre team in Tasmania and appointing John Talbot to lead growth strategy.
“The primary goal of this divisional structure is to deliver more focused industry specific expertise and leadership as we continue to expand. Real Estate will continue to operate “hand in glove” with Elders Rural Services and operations will largely remain integrated with our “One Elders” philosophy firmly intact,” Mr Russo said.
“That said, we will implement changes in reporting lines within our senior management structures and where it is otherwise appropriate. For example, many of our standalone real estate offices will report into the new real estate management structure.”
- We’ve asked Elders for a comment on these and any other likely redundancies, which will be added here should we get a reply.