(RTTNews.com) – While reporting its third-quarter financial results today, Hain Celestial Group, Inc. said it has appointed James Meiers to the newly-created position of Chief Operations Officer, effective immediately. He will report to Irwin Simon, with responsibility for achieving the cost savings across the company’s worldwide operations. The company also tightened its financial outlook for fiscal 2016.
As previously communicated, Hain Celestial commenced a strategic review under Project Terra and has identified approximately $100 million in global cost savings, which it expects to achieve during fiscal years 2017 through 2019.
The company expects these initiatives to include optimizing plants, co-packers and procurement and rationalizing the company’s product portfolio, and reinvesting these incremental savings into the business to further brand building efforts and household penetration.
In addition, the company will launch Cultivate Ventures, a venture unit. The company has also identified certain brands representing approximately $30 million in sales, which no longer fit into its core strategy for future growth, and it intends to sell these as a group.
For fiscal 2016, Hain Celestial now forecasts earnings in a range of $2.00 to $2.04 per share, and net sales in a range of $2.946 billion to $2.966 billion. Earlier, the company forecast full-year earnings of $1.95 to $2.10 per share and revenue in a range of $2.90 billion to $3.04 billion.
On average, analysts polled by Thomson Reuters expect earnings of $2.02 per share for the year on revenues of $2.94 billion. Analysts’ estimates typically exclude certain special items.
Source: RTT News
Diageo has today (10 November 2025) announced the appointment of Dave Lewis to the role of CEO and executive director, effective 1 January 2026. Lewis steps into the role following the departure of former CEO Debra Crew, who stepped down in July. Nik Jhangiani, the company’s chief financial officer, has been serving as interim CEO since.
Before joining TBG, Chibe served as CEO of Pabst Brewing Company. His previous roles include president and CEO of Ferrero North America, US chief marketing officer at Anheuser-Busch InBev and senior leadership positions at Wrigley.
Located in Southern Minas Gerais, the brewery aims to enhance the company’s supply chain by bringing production closer to key consumer hubs in Brazil’s Southeast region. With an initial capacity of up to five hectolitres per year, the plant will produce Heineken and Amstel products – both 100% pure malt brands.
