Australian Agricultural Company, a beef cattle producer in Australia, has found its new chairman of the board in former Telstra chairman and National Farmers' Federation president, Donald McGauchie. Mr. McGauchie is the third person to hold the seat of chairman in AAco in last one year.

However, the confirmation of his appointment is subject to shareholder approval. The annual general meeting of AAco is scheduled to be held on May 19, 2010.

Australian Agricultural Company said today that it has asked Mr. Donald McGauchie to join the board and assume the role of chairman in three months.

The company said that it expects to be benefited from the international and Australian agribusiness skills of Mr. McGauchie.

"Mr. McGauchie's international experience in agribusiness had equipped him to lead the company as it pursues a new business strategy under chief executive David Farley," said Nick Burton Taylor, current chairman of AAco.

Mr. McGauchie has held several board positions in Australian business and agriculture sector.

He is also currently serving the board at the Reserve Bank of Australia, GrainCorp, Nufarm and James Hardie Industries.