ELDERS has announced seven senior employees in the cattle export trading division, including the General Manager, have resigned employment with Elders.
The Register is led to believe two of the seven senior employees handed in their resignation to defect to Ruralco.
Elders released a statement to the ASX today and said "certain discrepancies and issues in relation to the reporting and recognition of livestock values in its live cattle export division" required further assessment.
According to the statement, the employees will work their notice periods to ensure an orderly transition to a new management team.
"The change in personnel provides Elders with an opportunity, in line with its recently implemented efficiency strategy, to reshape the broader Trading business to better integrate it with the Elders Rural Services Network," Elders' Chief Executive Malcolm Jackman said.
"This will ensure that the clients of the business continue to receive the best possible levels of service from Elders," he said.
Post employment conduct provisions forming part of the employment contracts of the employees who have resigned, provide certain protections to the live cattle export business.
The Register was unable to contact Mr Jackman to confirm which employees had resigned.