Halcyon Agri founding chief executive Robert Meyer retires

NATURAL rubber supplier Halcyon Agri Corporation on Monday said its founding chief executive officer (CEO) Robert Meyer, as well as chief corporate officer Pascal Demierre, retired on Friday.

Taking over from Mr Meyer as CEO is David Li Xuetao, the former CEO of GMG Global. He has more than 20 years of experience in the tyre, synthetic rubber and natural rubber business, mainboard-listed Halcyon Agri said in a regulatory update.

Halcyon Agri acquired industry peer GMG Global in 2016 in a series of transactions to consolidate the natural rubber business of Sinochem International Corp - Halcyon Agri's major shareholder.

Mainboard-listed GMG Global was subsequently delisted from the Singapore Exchange and renamed Halcyon Rubber & Plantations Pte Ltd.

Liu Hongsheng, chairman of Halcyon Agri's board of directors, said: "Today marks the successful completion of the post-merger integration of GMG, Sinochem's natural rubber business unit and Halcyon Agri."

The new management team will be "strongly focused on navigating Halycon Agri through (a) difficult global environment arising from the Covid-19 pandemic".

It will also ensure the group is well-positioned to emerge stronger and capitalise on opportunities arising from the evolving business environment, the statement said.

Mr Liu added: "On behalf of Sinochem International and Halcyon Agri, I would like to thank Robert and Pascal for their efforts and contribution in building up Halcyon Agri, and for leading the group through the challenging market conditions of the last three-and-a-half years.

Mr Meyer said: "The natural rubber industry is set for a sustained recovery, and as a second-generation member of the fraternity, I am grateful to have been able to contribute my part."

Mr Demierre added: "The support from Sinochem since our merger has been invaluable, and I wish the company and the new management a bright future."

Halcyon Agri on Monday requested to lift a trading halt that was called on Friday. The group's shares last traded at S$0.24 on Thursday.