Business as usual for Elders in Tasmania following restructure

Elders Tasmania general manager James Cornish said that his company’s national restructure will result in no changes to its rural operations in the state.

Elders will separate its real estate arm from rural services, creating a dedicated property division.

Tom Russo, currently Elders' real estate, brand, and communications executive general manager, has been appointed as the CEO of the Real Estate Division.

Elders managing director and CEO Mark Allison will also temporarily assume the role of divisional CEO for Rural Services during the transition, which is expected to last four to six months.

The restructure will replace the long-standing state general manager model with three new regional divisions: Northern (Queensland, NT, NSW), Southern (Victoria, Riverina, South Australia and Tasmania), and Western (WA).

Current South Australian general manager Bernard Seal will lead the Southern region following the restructure, which took effect on Wednesday and coincided with the start of Elders’ 2026 financial year. 

Mr Cornish said it would be business as usual for the company’s Tasmanian operations.

“It doesn’t affect us at all apart from the fact I’ve got a new boss,” he said.

“Tom Russo’s new role is a positive for all real estate in Tasmania.

“Because we’ve got such a real estate business here on the Elders footprint, bringing some more focus to real estate is a great thing and will allow Tasmania to really flourish in that real estate nationally.”

In 2024, the company acquired Knight Frank Tasmania, rebranding its operations and adding five new real estate offices in Hobart, Kingston, Launceston, Devonport and Swansea.

Elders also opened a new branch in Campbell Town earlier this year to strengthen its rural services network in the Midlands.

The company is pursuing the acquisition of its direct competitor, Delta Agribusiness, for $475 million.

The Australian Competition and Consumer Commission (ACCC) has raised preliminary concerns that the deal could reduce competition in rural merchandise and agronomy services.

In an ASX announcement, Elders stated that it is working constructively with the ACCC to address those concerns, but the acquisition remains subject to regulatory approval.