Fonterra is to part ways with chief executive Theo Spierings after the world’s biggest dairy exporter slumped to a NZ$348m first-half loss due to problems at its Chinese partner.
The New Zealand conglomerate said on Wednesday that Mr Spierings would step down before the end of the year. His departure follows criticism of governance at Fonterra by some of its 10,500 farmer shareholders, who have become increasingly concerned about the poor performance of Beingmate, a Shenzhen-listed infant formula maker.
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By Jamie Smyth and Tom Hancock
Source: Financial Times
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.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
