Shareholder Update - 20 December 2023

The past 12 months has been a period of significant change for MIL. 

MIL Board and management have laid the foundations for financial sustainability and modernised to support water delivery for customers into the future. 

We also face further disruption in our operating environment with new legislation governing the Murray Darling Basin plan and water buybacks to have a profound impact on our company and its shareholders.

With the MIL business strategy set, the organisation will pivot to collaboration and stakeholder engagement to support change, and Ron McCalman has decided to leave the organisation in June 2024.

Chair Phil Snowden said Mr McCalman has been instrumental in driving the business modernisation program required to set MIL up for the future.

“The Board thanks Ron for his unquestionable commitment to Murray Irrigation over the past 18 months. Ron hasn't shied away from bringing the difficult issues to the Board, particularly around intergenerational sustainability for our company and farmers. The company has grown stronger under his leadership.”

“With a new business strategy to deliver and disruption in our operating environment, the Board will look for a CEO who can navigate change and inspire collaboration. Stakeholder engagement will be paramount.”

The business is announcing this change now to maintain transparency and provide a transition period that supports stability. From a customer perspective, the coming six months will be business as usual.

CEO Ron McCalman said it has been a difficult decision to step away. “But I do this knowing Murray Irrigation has a fantastic and committed team of people who will always prioritise the efficient delivery of water.”

Mr McCalman will work with the Board and management team through the transition period to ensure the business maintains its momentum and focus. 

“The transition will see no change in the delivery of water or services to customers.