Mr Ballard’s appointment follows chairman Stephen Gerlach’s announcement to the company’s 2009 Annual General Meeting in December that he would retire from the Elders board, once a suitable successor had been identified and appointed.

Mr Ballard will assume the chair following an induction program and hand-over from Mr Gerlach.

Mr Ballard has a long and successful career in senior executive and non-executive director roles in agricultural and other businesses relevant to Elders’ operations.

In the agricultural sector Mr Ballard is currently a non-executive director of Fonterra and has previously served on the board of CSR.

He also brings substantial retail, marketing, distribution and inventory management expertise from his directorships at Woolworths, Email and Wattyl, where he was also chairman.

During his executive career, Mr Ballard served as chief executive officer and managing director of Southcorp and in roles with United Biscuits and Coca-Cola Amatil.

"I have a firm conviction in the strong long-term fundamentals of the Australian agricultural sector," he said.

"While the renewal program that the company has been working on over the last two years has faced some clear challenges, I am firmly of the view that Elders will continue to play an important and successful role in the development of Australia’s agricultural industry."