Milk producer Fonterra said on Friday Chairman John Wilson has resigned from his position with immediate effect over concerns regarding his health.
Fonterra’s board has selected company veteran John Monaghan as the co-operative’s new chairman.
Monaghan has been on the dairy firm’s board since 2008 and has played a key role in the search of a new chief executive, Fonterra said in a statement.
“Within the last month Mr Wilson has undergone a significant surgery and will require on-going treatment,” it added.
Earlier this year, Fonterra had flagged that Chief Executive Theo Spierings will leave his role later this year as part of a planned succession process.
Monaghan’s appointment comes at a time when global dairy prices have been depressed by increased production.
By Aditya Soni
Source: Reuters
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
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