Australia's largest beef cattle producer, Australian Agricultural Company (AACo), is searching for a new chief executive, after the departure of David Farley.
AACo said on Wednesday that its board had reached agreement with Mr Farley that he would cease employment with the company.
AACo's chief financial officer, Craig White, has been appointed interim chief executive while the company searches for a permanent replacement.
"AACo's new CEO will require a different skill set to lead the company in its next stage of growth," AACo chairman Donald McGauchie said in a statement.
Mr McGauchie also thanked Mr Farley for his nearly four years of work as AACo's chief executive.
AACo made a loss of $46.5 million in the three months to March 31, due to a massive writedown on the value of its 676,000-head cattle herd.
That writedown was brought about by low rainfall and the impact of a suspension of live exports, the company said at the time.
Mr McGauchie was not available to comment on Wednesday.
AACo has been selling some of its rural properties, and is building an abattoir in Darwin to decrease its reliance on the live cattle trade.
The company is moving away from primarily being a pastoral company to a being a beef exporter, with the focus on the Darwin abattoir and further development of beef markets in Asia.
AACo's operational performance under Mr Farley was considered to be successful despite drought and a slump in domestic cattle prices.
But AACo now wanted a greater international focus.
Shares in AACo were 2.5 cents lower at $1.175 at 1152 AEST on Wednesday.
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