Shares in agribusiness company Elders jumped on Monday after the group convinced chief executive and managing director Mark Allison to cancel his planned retirement in November.

As part of the deal, if Mr Allison stays beyond June next year, he will pick up an additional cash bonus of $500,000.

His salary will also increase to $1.5 million a year and he will receive an additional $500,000 if his tenure stretches beyond June 1, 2025.

The decision has come after Elders undertook a domestic and international search to find a replacement managing director after Mr Allison announced his plan to retire at the end of last year.

After the announcement to the stock exchange, the company's share price jumped by nearly 10 per cent to $6.82, before finishing the day at $6.55.

Mr Allison said in a statement to the ASX that while he had been intending to retire from Elders, it was never his intention to cease serving the interests of Australian agriculture and farmers after his retirement.

"As a result, I was very pleased to accept the board's invitation to continue in my role and am energised by the prospect of building on the hard work we have already done at Elders during my tenure," the statement read.

When Mr Allison announced his retirement last year Elders reported an underlying profit of $223.5 million before tax, up by 42 per cent on the previous year.

The recent half-year results showed the company reported a 38 per cent fall in half-year earnings compared to the same time last year but still recorded earnings before interest and tax of almost $83 million.