Dairy Holdings CEO Colin Glass Retires After 25 Years of Growth
After 25 years it is the right time to step away, says Colin Glass, the retiring chief executive of New Zealand's largest private corporate dairying company, Dairy Holdings.
The co-op says as an investor in Beingmate, it only has access to publicly available information on the Chinese company’s performance.
“When we have a meaningful update on Beingmate’s direction, farmers will be the first to know,” a Fonterra spokesman told Rural News.
Asked if Fonterra was rethinking its investment in Beingmate, the spokesman said the strategic rationale for partnership with a leading local infant formula brand still stands.
“But we are disappointed the company hasn’t maximised the opportunity created by the new registration rules.”
Fonterra points out that its partnership with Beingmate has enabled Anmum to expand from 60 to 184 cities; Anmum infant formula is now in at least 10,000 stores in China, on all the major e-commerce platforms, and is one of the top performers in Beingmate’s product range.
“It’s important to understand that the 80,000 retail stores was a reference to Beingmate’s footprint in China; however, as Anmum is a premium brand Beingmate has made the decision to focus on 10,000 stores to reach the right target consumers.”
