Complex sentence: It was founded by J. C. Williamson Theatres Ltd. and the Australian Elizabethan Theatre Trust in 1962, with the English ballerina and artistic director Dame Peggy van Praagh as founding artistic director, and is today recognised as one of the world's major international ballet companies.
Split into simpler sentences: It was founded by J. C. Williamson Theatres Ltd. and the Australian Elizabethan Theatre Trust in 1962, with the English ballerina Dame Peggy van Praagh as founding artistic director. Today, it is recognised as one of the world's major international ballet companies.