Headcount rises at Southcorp

  • Thursday 28 August 2003

The Chairman of the Australian wine giant Southcorp announced the departure of two directors yesterday.

The men concerned, Don Argus and Dick Warburton, had been on the board since 1999 and 1993 respectively. The Western Australian newspaper points to the involvement of the Australian Shareholders Association, saying it 'was planning a campaign against Mr. Argus'. However the exact reasons for the departures of the two men are unknown.

Their departure was confirmed in a press release which said that Argus would be leaving immediately whereas Warburton would cede his directorship at the close of the annual general meeting.

This adds to the headcount of the troubled multinational which over the last year has seen several high-rankers take their leave of the company. CEO Keith Lambert was forced out in February this year. Philip Shaw, chief winemaker, Peter Cleaves, chief financial officer, and general manager Robert Porter, have all left over the last few months.

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