Managing director and CEO of Lindsay Australia, Kim Lindsay, has announced his plans to step away from the business as he heads into retirement.
Lindsay has had a long career in the business, having first worked with Lindsay Transport from 1974 until 1983, before establishing P&H Rural Supplies (PHRS).
He was able to expand PHRS from a small local operation to a major regional business, serving as the foundation for the current Lindsay Rural division.
Lindsay has held his current role as managing director and CEO of Lindsay Australia since the merger of PHRS and Lindsay Brothers Holdings Pty Ltd, and its subsequent listing on the ASX in December 2002.
“He has been central to the growth of the business and has given Lindsay Australia 20 years of uninterrupted and distinguished service as CEO. During Kim’s leadership, Lindsay Australia has risen to become one of Australia’s largest transport companies employing over 1500 employees,” the company said in a statement.
“Kim’s time as CEO has also seen Lindsay Australia grow from operating revenue of $144.3 million and EBITDA of $12.3 million in 2003 to revenue of $553 million and EBITDA of $60.1 million in FY2022 and is currently on track for a record year in FY2023 with EBITDA forecast to be in the range of $68 million to $71 million.
“There is no question that Kim will leave Lindsay Australia well-positioned to achieve the Group’s significant ambition of reaching annual revenue of $1 billion and EBITDA of $100 million whilst driving shareholder returns over the coming three to five years.”
Lindsay will officially finish up with the business on June 30, with the company now on the hunt for his replacement.
“The board will consider internal and external candidates in its CEO search and has retained a leading recruitment firm to assist with the process. After an appropriate break, the board will engage with Kim regarding an on-going non-executive role with the company,” Lindsay Australia said.