I think I still have the sharpness of mind to carry on. Selwyn Cushing Rural Equities chairman Sir Selwyn Cushing is handing over the role to his son David, though the move doesn't signal the corporate veteran is being put out to pasture.
The Cushings' investment vehicle, H&G; Ltd, owns
about 50 per cent of Rural Equities, which has investments in dairy, sheep and beef farms and forests. "I'm not a 100 yet. I think I still have the sharpness of mind to carry on," Selwyn Cushing said.
"It's no palace revolution," and it was certainly not an "instant exit", but it was time David and his team stepped up, he said.
Deputy chairman Murray Gough is also stepping down. Both Cushing senior and Gough will remain as directors. The changes come into effect on January 1.
The shares, which trade on the Unlisted platform, last traded on November 24 at $3, valuing the company at $120 million.
