CSR appoints new CEO of Sugar Division

CSR Limited (CSR) announced today that Ian Glass on has been appointed CEO of CSR’s Sugar Division to replace Ian McMaster who advised last year that he wanted to retire from the company during the first half of 2006.

Ian McMaster joined CSR in February 1999 and has led a significant restructuring of the Sugar Division to deliver sustainable profitability despite a period of depressed global sugar prices. He has also provided invaluable leadership to assist in the restructuring of the Australian sugar industry.

CSR Managing Director Alec Brennan said, “Ian has led the Sugar Division through some very challenging times. As the outlook for the business improved, he has initiated some exciting strategies including growth in sugar milling and refining, expansion in ethanol as a renewable fuel and the commercial development of renewable electricity generation.”

Ian has agreed to continue to work with CSR as a strategic adviser to the company. In this role he will represent CSR within the sugar industry and provide consulting advice on a number of important projects.

Ian Glass on joins CSR following his role as Managing Director of Gresham Rabo Management Limited. Previous experience includes acting as Managing Director of Goodman Fielder Ingredients serving in both Australia and the USA and as General Manager of Leiner Davis Gelatin. In addition, Ian worked in the petroleum industry for sixteen years with Esso Australia and Exxon Corporation.

“Ian Glass on brings to CSR a unique mix of extensive experience in food and agribusiness companies combined with a substantial background in the petroleum industry which will be particularly important as CSR Sugar grows its ethanol biofuel operations,” Mr Brennan said.

Ian Glass on will commence as CEO CSR Sugar on 3 April and will work with Ian McMaster on the handover of his responsibilities during April.