Fonterra chief executive officer Theo Spierings addressed the China Business Summit in Auckland this morning, saying that Fonterra faces the risk of losing Chinese market share to European competitors.
As the NZ Herald reports, “Spierings said Fonterra was aiming to grow its business in China from around $5 billion in 2014 to $10 billion over the next five years.”
NZ Herald quotes Spiering, saying that “one big change that I expect is the growth of tier three and four cities. It’s going to be a different ball game – completely different.”
“Should we be concerned about Chinese companies investing in New Zealand because of brand New Zealand and the super premium prices they can achieve in their market? I don’t think we should be concerned,” he said.
“Should we be concerned about Chinese companies investing in New Zealand because of brand New Zealand and the super premium prices they can achieve in their market? I don’t think we should be concerned,” Fonterra CEO said.
Source: FXStreet
In the lead-up to the world-famous Oktoberfest – which celebrates Bavarian tradition, beer and the festival spirit – Munich was already buzzing with activity by the time the doors opened to Drinktec 2022 on 12-16 September. The atmosphere was lively, with approximately 50,000 visitors from 169 countries in attendance.
Unilever has announced CEO Alan Jope’s decision to retire from the company at the end of 2023, after five years at the helm. The announcement comes less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.
Lakeland Dairies has announced that Colin Kelly will assume the role of group CEO following the retirement of Michael Hanley at the end of the year. Kelly will take up the position in January 2023, while Hanley will step down in December this year.
