Australian wool board reshuffled amid record low production and declining revenues.

Australian Wool Innovation (AWI) elected Michelle Humphries, Chris Mirams, and Anthony Uren to its 2025 board, with George Millington named chair after Jock Laurie’s 10-year term. Open proxies, including those from Laurie, influenced the outcome. Despite a 28% rise in the EMI and gains in certain wool grades, wool production hit a 100-year low, supply shortages are growing, and prices haven’t kept up with rising costs, driving many growers out. AWI’s reserves fell to $77.26 million and revenue dropped to $57.7 million. Millington expressed optimism, citing stronger demand in China and progress on traceability efforts to improve grower returns.