Mr Jackman replaces Les Wozniczka, who resigned on June 25 after the company announced lower earnings.

He has previously worked as CEO and managing director of Coates Hire Ltd, an ASX 200 listed company, from 2003 until its sale in January 2008.

"Malcolm Jackman brings to Futuris proven and successful experience as the CEO of a publicly listed company and a strong track record in leadership, communication with stakeholders and share-price-accretive growth," Futuris chairman Stephen Gerlach said.

"The skills Malcolm Jackman has demonstrated in the execution of corporate structure rationalisation are particularly pertinent to the priorities for Futuris identified by the board earlier this year."

Mr Jackman said he was delighted by the opportunity to join an organisation with Futuris's assets at an opportune time for the Australian and New Zealand agriculture sectors.

"The sector has outstanding prospects and Futuris has the assets and presence to play a key role in the development of world class agribusiness," Mr Jackman said.

But he has told The Australian Financial Review that Futuris must sell all non-core assets.

"We are doing that as expeditiously as we can," he told AFR.

"We need to keep the heat on that process to make sure we execute that well."

Futuris is moving towards a diversified agricultural business.

However, he confirmed the company is still looking to sell its 43pc stake in AA Co, despite abandoning the sale process in May.