Displaying items by tag: Fonterra

In a follow-up to this old mutt’s piece two issues ago about Fonterra directors getting to grips with the co-op’s financial state and loudly sharing their dismay in the Koru club, another of the Hound’s spies has passed on more news in the ‘Fonterra director watch’ category.

Fonterra says there’s an urgent need to improve return on capital invested in the co-op by farmers and unit holders.

Fonterra has taken a $126 million hit over the sale of its stake in Venezuelan consumer joint venture, Corporacion Inlaca.

Fonterra is pulling out of a European joint venture as part of its portfolio review following last year’s disastrous financial results.

Fonterra says it has returned to profitability with a net profit of $80m for the first half of the 2019 financial year.

OPINION: Fonterra chief executive Miles Hurrell’s open and accessible approach has brought a refreshing change at the co-op. 

Fitch has revised its rating outlook for Fonterra to negative from stable but reaffirmed the long term default rating as ‘A’.

Miles Hurrell's confirmation as Fonterra’s chief executive has been warmly received on social media.

Fonterra chief executive Miles Hurrell is asking shareholders for time to turn the business around.

The a2 Milk Company and Fonterra are working closely through “the next wave of commercial opportunities together”.