Murray Cod Australia appoints Steven Chaur as new CEO
Murray Cod Australia (ASX: MCA) has announced the Murray Cod Australia CEO appointment of Steven Chaur as Managing Director and Chief Executive Officer, effective 20 April 2026. Mr Chaur, currently serving as a Non-Executive Director, will transition to an executive role following an interim leadership period under Mat Ryan (Executive Director, Production and Development) and Roger Commins (Non-Executive Director), who will serve as Interim Joint CEOs until his commencement.
The appointment positions MCA for a strategic shift toward commercial growth and market expansion. Mr Chaur brings nearly 30 years of industry experience, with 16 years at CEO or Managing Director level across branded consumer food products, large-scale agricultural production, and retail business development.
Chairman Brett Paton described the move as a deliberate pivot toward proactive domestic channel development and revenue optimisation, signalling the company’s transition from production-focused operations to sustainable commercial growth.
What does a CEO do for a listed company?
A Chief Executive Officer manages the day-to-day operations of a company and implements the strategic direction set by the Board of Directors. In a publicly listed company like MCA, the CEO is accountable to shareholders for financial performance, operational efficiency, and long-term value creation.
The distinction between a Non-Executive Director and a Managing Director or CEO is critical. Non-Executive Directors provide independent oversight and governance but do not manage daily operations. A Managing Director holds a dual role, serving both as an executive leader (CEO) and as a member of the Board, responsible for executing strategy while remaining accountable to other directors and shareholders.
For an aquaculture producer like MCA, which operates vertically integrated farming operations for premium Aquna Murray Cod, appointing a commercially focused CEO suggests a strategic emphasis on revenue growth, channel development, and market penetration rather than purely production or operational expansion.
Steven Chaur brings deep FMCG and agricultural leadership
Mr Chaur’s appointment reflects a deliberate focus on commercial expertise and customer channel development. His background spans both business-to-consumer (B2C) and business-to-business (B2B) markets, including Supermarkets, Foodservice, Wholesale, Quick Serve Restaurants, and export markets, particularly in developed Asia.
His track record includes leadership roles across major Australian consumer food and agricultural businesses:
- CEO/Managing Director roles: Hiro Brands Limited, Castlegate James Australasia, Nutrano Produce Group, Patties Foods Limited (ASX:PFL), Saint-Gobain Pacific (EPA:SGO)
- Senior executive positions: George Weston Foods, Findus Australia, National Foods Ltd, Simplot Australia, Unilever
- Current Board Chair: Honestly Riverina Limited
- Past Non-Executive Director: Wingara AG Limited, Meat & Livestock Australia, Davies Bakeries
- Qualifications: AICD Graduate, MBA and Graduate Diploma (Marketing) from Monash University
This commercial pedigree aligns with MCA’s need to scale distribution of its award-winning Aquna Murray Cod, which is produced using proprietary technology in the Riverina, NSW, and marketed as a luxury product with creamy white flesh coveted by chefs globally. Expanding domestic supermarket presence and penetrating developed Asian export markets requires precisely the channel expertise Mr Chaur has demonstrated across his career.
Employment terms and incentive structure
The employment agreement balances fixed remuneration with performance-based incentives explicitly tied to revenue growth and share price appreciation, aligning executive interests with shareholder returns.
| Component | Value | Conditions | Investor Note |
|---|---|---|---|
| Base Salary | $570,000 p.a. plus super | N/A | Fixed cost to business |
| Sign-on Bonus | 200,000 ordinary shares | Subject to shareholder approval; 12-month holding lock | Aligns interest with shareholders |
| STI | Up to 50% of Base Salary | Performance hurdles set by Board | Rewards near-term execution |
| LTI | 110% of Base Salary | Vests over 3 equal 12-month tranches; revenue growth and share price appreciation targets | Aligns long-term value creation |
The agreement includes no fixed term, with a 12-month notice period. The Long-Term Incentive structure is particularly investor-focused, vesting over three equal tranches subject to performance hurdles that explicitly include revenue growth and share price appreciation targets. This ensures Mr Chaur’s compensation is directly linked to measurable shareholder outcomes rather than discretionary board assessment alone.
The Short-Term Incentive, capped at 50% of base salary, provides additional performance-linked upside subject to Board-determined hurdles. Both STI and LTI details will be disclosed in the Remuneration Report consistent with ASX governance standards.
Chairman’s perspective on the appointment
Brett Paton, Chairman
“We are pleased to welcome Steven Chaur, who brings a strong commercial focus and will be tasked with increasing proactivity in domestic channel development, growing revenues and optimising operating efficiencies to ensure the business achieves sustainable growth over the long term. We look forward to working with Steven in his new role as the Company transitions into its next chapter.”
The Chairman’s statement explicitly frames the appointment around three priorities: domestic channel development, revenue growth, and operational efficiency. This commentary positions the CEO appointment as a strategic inflection point for MCA, signalling a shift from production capacity building to commercial execution and profitability optimisation.
What this means for MCA shareholders
The Steven Chaur Murray Cod Australia CEO appointment represents a deliberate strategic pivot for (ASX: MCA) as the company transitions from production-focused development to sustainable commercial growth. Mr Chaur’s skillset directly addresses the commercialisation challenge facing vertically integrated aquaculture producers: converting award-winning product quality into scalable domestic and export revenue.
His deep understanding of supermarket, foodservice, and wholesale channels positions MCA to accelerate penetration of Australian retail markets, while his export experience in developed Asia aligns with the premium positioning of Aquna Murray Cod as a luxury culinary product. The appointment suggests the Board has concluded that production capacity and product quality are no longer the primary constraints to growth.
Key takeaways for shareholders include:
- Commercially focused leadership to drive domestic channel development and market penetration
- Export market expertise, particularly in developed Asia, aligning with premium product positioning
- Incentive structure aligned with revenue growth and share price performance, ensuring executive-shareholder alignment
- Smooth transition with interim joint CEOs maintaining operational continuity until April 2026
The employment terms, particularly the LTI structure tied to revenue growth and share price appreciation, ensure Mr Chaur’s compensation is directly linked to shareholder value creation. The 12-month holding lock on the 200,000 share sign-on bonus further demonstrates alignment, preventing immediate equity liquidation and ensuring skin in the game during the critical first year of tenure.
For investors, the appointment signals confidence from the Board that MCA’s production capabilities and product quality have reached a level where the primary value driver is now commercial execution and revenue scaling rather than operational development.
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