Divestment means Fonterra can focus on its strengths
OPINION: Fonterra's board has certainly presented us, as shareholders, with a major issue to consider.
Fonterra chief executive Miles Hurrell is introducing a new “customer led operating model” as part of the co-op’s new strategy.
The co-op is moving from two large central businesses (ingredients, and consumer and foodservice) to three in-market customer facing sales and marketing business units: Asia Pacific (APAC), Greater China (GC), and Africa, Middle East, Europe, North Asia, Americas (AMENA).
Judith Swales will head the APAC business and Kelvin Wickham AMENA. Marc Rivers will remain chief financial officer, Deborah Capill managing director people and Mark Cronin managing director cooperative affairs.
The chief operating office global operations, Rob Spurway, will leave the co-op.
Hurrell is also creating a new management role of chief operating officer. Recruitment is underway for the China chief executive officer and chief operating officer roles.
Hurrell say Fonterra needs an organisational structure that “allows us to live within our means, create better connections with our customers, and create value by focusing on what we are good at and where we can differentiate ourselves.
“The structure encourages us to work together as one team.
“We are also looking at ways to prioritise activities and increase efficiency for our central support functions, ensuring they add direct value to our co-op.”
Hurrell says Spurway will leave Fonterra after an eight-year stint.
“He has been a huge contributor to the ongoing strength and performance of our NZMP Ingredients business and has set the platform for continued success through innovative technologies, a team of highly capable people and significant progress on sustainability across our manufacturing operations -- all central to our strategy.”
Over the next few months, Spurway will help transition global operations to the new operating model and will work with the Greater China leadership team to implement a new Greater China regional go-to-market model.
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The Government has announced it has invested $8 million in lower methane dairy genetics research.
A group of Kiwi farmers are urging Alliance farmer-shareholders to vote against a deal that would see the red meat co-operative sell approximately $270 million in shares to Ireland's Dawn Meats.
In a few hundred words it's impossible to adequately describe the outstanding contribution that James Brendan Bolger made to New Zealand since he first entered politics in 1972.
Dawn Meats is set to increase its proposed investment in Alliance Group by up to $25 million following stronger than forecast year-end results by Alliance.
OPINION: Voting is underway for Fonterra’s divestment proposal, with shareholders deciding whether or not sell its consumer brands business.
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