Elders has appointed Paraway Pastoral Co chief executive David Goodfellow to the new position of group general manager of the company’s Australian agency network.

He will start work in late January, taking over the operations management function from Elders chief executive, Malcolm Jackman, who filled the role on a temporary ‘custodial’ basis since July last year, following a disappointing profit performance over the previous 12 months.

Mr Goodfellow has guided the expansion of Macquarie Pastoral Fund’s Paraway Pastoral Company over the past four years, growing the group into one of Australia’s largest diversified beef and sheep producers, with a footprint stretching from northern Australia into southern NSW.

He is a former Elders employee, having spent 25 years in agency operations and finance sectors including terms as Elders Rural Bank Victorian state manager, and senior manager for Victoria.

As group general manager of Elders Australian network, Mr Goodfellow will be responsible for the day-to-day management, performance and development of the company’s Rural Services operations.

“With the agency network results showing turnaround and good momentum, it is now time to concentrate my efforts on the tasks involved with being the CEO,” Mr Jackman said in a statement yesterday.

Macquarie Pastoral Fund will commence a recruitment process to seek a replacement for Mr Goodfellow in coming weeks.

Elders shares rose yesterday on the ASX to 28c.