Costa Group CEO stands down

04th Oct 2022

The Costa Group is looking for a new CEO after Sean Hallahan steps down. Hallahan, who relinquished the position in late September, has only occupied the chief executive seat since March last year, when Harry Debney retired and became a non-executive director. Meanwhile, Debney will step in as interim CEO and managing director, another role held by Hallahan, as a search begins for a replacement.
Chairman Neil Chatfield described the last two years as “challenging” for Costa amid the pandemic and “extreme” weather conditions. However, the business swung back to profit in the 2020 fiscal year.
Costa’s shares closed more than 14% lower in Sydney on the back of Hallahan’s departure from the supplier of berries, mushrooms, glasshouse tomatoes and avocados.
Chatfield said: “We understand that the last two years, particularly in Victoria, have taken a large toll on the business and personal lives of individuals. Under Sean’s leadership, Costa has performed extremely well during a challenging period with global Covid-19 disruptions and extreme weather conditions being successfully navigated and is in a strong financial position.”
Hallahan said: “I am proud to leave Costa in a strong position financially and operationally. Reaching my decision has been a process and there are several things that have gone into my decision. It has been an intense couple of years in agriculture made even more challenging with the overlay of the Covid-19 pandemic.”