Sector News

Fonterra orders shake-up after dairy giant’s first annual loss

September 14, 2018
Food & Drink

Fonterra has announced a major shake-up of its business, including a strategic review of its troubled Chinese joint venture, as the world’s biggest dairy exporter posted its first annual loss.

New Zealand’s biggest company said on Thursday it would re-evaluate all investments, major assets and partnerships to ensure they still met its needs.

It follows a disastrous 12 months, which have seen its shares drop to near-record lows over concerns about governance, execution of strategy and its Chinese joint venture, Beingmate.

> Read the full article on the Financial Times website

By Jamie Smyth

Source: Financial Times

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