Synlait shares in trading halt
Listed Canterbury milk processor Synlait’s shares have been placed in a trading halt.
A2 Milk Company interim chief executive Geoffrey Babidge says it will be business as usual for the premium brand milk processor.
“I have already had the benefit of reviewing the company’s strategy and position and can say I don’t envisage any material change to the plan that the board and senior management have in place,” he told an investor briefing last week.
Babidge, who retired from the role 16 months ago, agreed to return on an interim basis after the shock resignation of Jayne Hrdlicka.
In a market announcement, Hrdlicka said she had not anticipated the amount of travel involved when she took up the role 18 months ago.
A2 chairman David Hearn says Hrdlicka’s departure wasn’t performance related.
Babidge says a2 Milk’s commitment to building a China and US business with multi-channel distribution capability will not change.
Hearn says the plan’s implementation will be the intensive focus of the next three to five years.
Following the announcement of Hrdlicka’s departure, a2 Milk share price dropped, but has since recovered.
The company says a global search for a new chief executive will start immediately.
The Commerce Commission says connectivity options for rural New Zealanders are front-of-mind as it begins a formal investigation into the future of the copper network.
Grand Finalists have been selected, all regional finals have concluded, and the journey towards the FMG Young Farmer of the Year Grand Final is underway.
Hopes of NZ sheepmeat prices picking up anytime soon in the country's key export market of China looks highly unlikely.
Regional councils are welcoming the certainty for councils in today’s Resource Management Act (RMA) announcement by the Government.
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
Federated Farmers says changes announced to the Resource Management Act today mark the end of the war on farming.
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