Lachlan Star Limited announced that Mr. Mick McMullen intends to retire as Executive Chairman with effect from January 6, 2014. He will continue to serve as a non-executive director for a further three months before retiring from the Board. The company also said that Mr. Scott Perry will assume the non Executive Chairman role upon Mr. McMullen's retirement and day to day operational management will remain with the company's CEO, Mr. Bira de Oliveira.

Mr. Perry has been a director of the company since 2011, and has served as Audit Committee Chair since that time. Mr. McMullen will remain available for the company on a consulting basis as required to assist in an orderly hand over process.