Astral Foods appoint Gary Arnold as new CEO
SOUTH AFRICA – Poultry producer Astral Foods has announced that its current Chief Operating Officer (COO), Gary Arnold, will step into the role of Chief Executive Officer (CEO) on February 1, 2025.
Arnold will take over from Chris Schutte, who is set to retire following the company’s annual general meeting on January 30.
Having served as COO and an executive director since 2012, Arnold brings 28 years of experience with Astral Foods.
The company highlights his deep knowledge of its integrated operations and his significant role in implementing its strategies over the years.
This leadership transition follows a challenging period for Astral Foods, which expects to report a return to profitability for the year ending September 30, after recording its first loss in 24 years.
In its latest trading update, the company estimates its headline earnings per share will range between US$0.97 and US$1.04, a stark contrast to the US$0.68 loss per share reported the previous year.
The loss, which occurred during the financial year ending September 2023, was attributed to a combination of factors, including South Africa’s largest outbreak of highly pathogenic avian influenza (HPAI) and ongoing nationwide electricity outages.
The bird flu epidemic led to the loss of nearly 10 million chickens, reducing the national poultry stock by approximately one-third.
Simultaneously, frequent power outages—caused by failures in the country’s aging coal-fired power plants—added to operational costs.
However, improvements in electricity supply, with no major outages reported for over 200 days since late March 2024, and the containment of the avian influenza outbreak by the end of 2023, have contributed to Astral’s recovery.
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