Wellard appoints new exec to charm China

By Oscar Rousseau

- Last updated on GMT

Wellard wants to drive a big expansion in China's cattle market
Wellard wants to drive a big expansion in China's cattle market

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One of Australia’s largest livestock exporters, Wellard Limited, has appointed Chinese businessman Kanda Lu as executive director in a push to expand in China’s cattle market.

Lu holds the position of assistant to the chairman at major Wellard shareholder Fulida. In addition to this role and his new executive director position, Lu has been named head of China initiatives, which will see him take control of Wellard’s Chinese-owned subsidiary Wellao.

It is a calculated move for Wellard, as the business aims to expansion into China’s burgeoning cattle market.

Wellard has been exporting cattle to China for a decade now as a supplier of breeding cattle,​” said Wellard CEO Mauro Balzarini in a press statement.

The new protocol for slaughter and feeder cattle is an enormous opportunity to expand into this huge market. The skills Kanda brings to Wellard and Wellao, combined with his intimate knowledge of Chinese market dynamics as well as asset and managements skills, sets Wellard apart from its competitors and will enable it to capitalise on its potential.​”

‘Untapped opportunity’

Lu said he looked forward to joining the Wellard​ board of directors and expects the company is in a good position to capitalise on China’s drive to expand its beef herd.

The China market provides untapped opportunity for Australian live cattle exporters and producers,​” Lu added.

Like all new trading relationships, it will take time to establish, but when it does the possibilities are exciting.​”

Lu has replaced longstanding member of the board Greg Wheeler, who had been at Wellard even before the company launched listed itself on the Australian stock market.

Wellard’s chairman David Griffith said Wheeler “provided diligent and professional service… through Wellard’s major corporate initiatives, including the IPO, the difficult trading conditions​ we have experienced in recent times and our current capital raising​”.

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