June 23, 2019 / 11:05 PM / 23 days ago

Australia's GrainCorp to appoint Graham Bradley as malt business chair

June 24 (Reuters) - Australia’s biggest listed bulk grain handler, GrainCorp Ltd, said on Monday it would appoint Chair Graham Bradley as chairman of the malt business, if the planned spinoff of its global malting unit proceeds.

Peter Richards has been appointed deputy chairman of GrainCorp effective immediately and will take over as GrainCorp chairman if the demerger is carried out, the company said in a statement.

In April, the Australian takeover target said it planned to split in two, spinning off and listing its malt unit and restructuring its grain business, whose earnings have been hit by drought.

Reporting by Niyati Shetty in Bengaluru; Editing by Peter Cooney

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