Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
Jacqueline Chow, who is currently managing director global brands and nutrition, is stepping into the newly created role of chief operating officer velocity, effective June 1, 2015 – where she will work alongside the management team to accelerate performance across the cooperative.
Chief executive Theo Spierings says: "In her new role, Jacqueline will lead the next stage in Fonterra's evolution, working across the entire cooperative to push forward the Velocity part of our V3 strategy and deliver the best possible performance."
In the other appointment Johan Priem, currently Fonterra's president Greater China, will take on the additional role of managing director Asia Middle East and Africa (Asia MEA) on August 1, 2015.
Spierings says Priem is ideally placed to take on this additional role given he has previously held senior leadership positions in Asia, Middle East and Africa for Fonterra and other companies.
"Johan will draw on his extensive knowledge, experience and relationships in the region, which includes a number of Fonterra's key strategic markets."
As a consequence of Chow's appointment, a senior executive in the Global Brands and Nutrition team, René Dedoncker, will join the Fonterra Management Team as acting managing director global brands and nutrition, with effect from June 1, 2015.
