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.
Singapore-based Komal Mistry-Mehta will be the new chief innovation and brand officer.
Mistry-Mehta has been with the co-operative since April 2011 and currently leads its high-value ingredients business, Active Living.
The co-op will also be appointing a managing director strategy and optimisation. The new role is yet to be filed.
Fonterra chief executive Miles Hurrell says since announcing its refreshed strategy in September 2021, the co-op has been working through how to adapt its organisational structure to accelerate progress towards its long-term aspirations.
“Our ambitions are to grow the value we derive from our New Zealand milk through our sustainability credentials, innovation, and nutrition science.
“To enable this, we have established two new Fonterra Management Team (FMT) roles to increase the co-op’s focus on innovation and strategic implementation,” says Hurrell.
The two new management appointments start on August 1.
