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.
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Horticulture NZ chief executive Nadine Tunley will step down in August.