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After more than half a century involved with Australian-listed chemical company Nufarm, chairman Kerry Hoggard has resigned.
In a brief statement today, the company announced Mr Hoggard was retiring immediately due to ill health.
The board was meeting late today to elect a new chairman with an announcement due prior to the market opening tomorrow.
Valued on the NBR Rich List last year at $80 million, Mr Hoggard was today resting at home after throat surgery.
A decade ago Mr Hoggard was accused by the Securities Commission of insider trading during his tenure as chairman of Fletcher Challenge.
The case against him was settled in 2002 without a court ruling.