THE man in charge of operations for Gina Rinehart’s Hancock Pastoral and Kidman Pastoral investments, David Larkin, left the business abruptly over the weekend.

Hancock contacts would not comment on the development when approached by Beef Central, but sources close to both companies confirmed Mr Larkin’s weekend departure this morning.

A former branded beef supply chain director and chairman of the Australian Meat Industry Council, Mr Larkin was appointed head of agricultural operations (effectively, chief executive officer) of Ms Rinehart’s Hancock Prospecting and S.Kidman & Co pastoral investments in September 2017.

Gina Rinehart with Hancock Agriculture chief executive, David Larkin

During Mr Larkin’s four-year watch, the Hancock Pastoral and branded beef supply chain business grew dramatically, with acquisitions of breeding, backgrounding and finishing properties in three states, commercial feedlots, and cattle herds containing elite Wagyu genetics.

A suite of commercial beef brands was launched, including the 2GR Wagyu program, now one of the largest Wagyu integrated supply chains in Australia, and shortfed brands including the Santa Gertrudis-based Kidman Beef program.

With more than 25 properties in its portfolio, the Hancock Prospecting Group’s agribusiness is Australia’s second largest beef producer, with a total herd capacity size of more than 340,000 head.

Since 2018, Kidman and Hancock Agriculture have been easily the largest and most active investors in the Australian cattle industry. That direction changed earlier this year when Hancock and Kidman activated a sell-down of eight properties totalling 1.9 million hectares across the Northern Territory and west Kimberley regions, in order to “focus on other agricultural and cattle opportunities.”

Despite the impact of drought, both the Hancock Agriculture and Kidman businesses remained profitable over the past four years under Mr Larkin’s direction – certainly more so than several other large corporate cattle enterprises, sources close to the businesses told Beef Central this morning.

Mr Larkin made a series of senior management appointments after starting with the business in late 2017, including George Scott as general manager of agricultural operations, Greg Gibbons as general manager of Wagyu and backgrounding operations, and Chris Fenwick, general manager of feedlots, livestock procurement and logistics.

Given his skills-set, his appointment as CEO clearly signalled that owner Gina Rinehart saw both companies’ futures not only in efficient large-scale livestock production, but in development and execution of branded beef programs for international and domestic markets.

Mr Larkin originally owned and operated Atron Enterprises, a large scale vertically-integrated grain and grassfed branded beef business using a service kill out of the Northern Cooperative Meat Co at Casino, NSW. Atron claimed a turnover of $200 million in 2015.

Atron was sold to Thomas Foods International in May, 2016, and soon after Mr Larkin took up a short-term management position with TFI, primarily representing the company in trade access issues, before his Hancock appointment.

Ms Rinehart and her Chinese partner Shanghai Cred completed the purchase of S. Kidman & Co in December 2016, with Ms Rinehart taking a 67pc stake in the Australian Outback Beef joint venture business, and Shanghai Cred 33pc.

In addition to his own business, Mr Larkin spent six years as chairman of the Australian Meat Industry Council, resigning in June 2017, upon the sale of his business to TFI.

During his term as AMIC chair, he played important roles in developing trade access agreements and removing trade barrier for Australian beef in emerging markets like China, as well as the US, Japan and Korea.

Beef Central understands that prior to his departure from Hancock, Mr Larkin fielded employment inquiries from other large Australian pastoral entities.