The former boss of Murray Goulburn (MG) Gary Helou has denied misleading investors in his first public comments since leaving the company.
Helou, who gave evidence via telephone to a Senate inquiry into the dairy industry in Perth on Thursday, left MG at the time of the company’s sudden retrospective milk price cuts in April last year.
Following the price cuts, dairy farmers owed MG hundreds of thousands of dollars. Helou said yesterday MG had acted on the best information available, according to an ABC Rural report.
"We didn't mislead. I didn't mislead. We acted on the best information that was available to us at the time," Helou said.
The Australian Securities and Investment Commission said at the time that it would investigate the partically listed company's disclosures to the ASX.
Helou told the Senate inquiry yesterday he had not been approached by authorities over allegations of misleading investors.
