Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Fonterra Australia-NZ boss leaves after regional rejig

Fonterra Australia-NZ boss leaves after regional rejig

By Paul McBeth

Nov. 29 (BusinessDesk) - Fonterra Cooperative Group’s Australia New Zealand managing director John Doumani will leave the dairy exporter after the company rejigged its regional boundaries.

The cooperative, fresh from raising $525 million through its shareholders' fund to reduce shareholder redemption risk, has reorganised its consumer businesses to combine Australia and New Zealand with the ASEAN/Middle East/North Africa unit, it said in a statement. Sydney-based Doumani signalled he will leave the dairy exporter in March next year due to the restructuring, it said.

"Our businesses across Asia Pacific represents around 40 percent of our earnings and are vital to the cooperative," chief executive Theo Spierings said.

"There are big growth opportunities in the emerging markets of Asia and Middle East, and some challenges to address in our home markets of Australia and New Zealand, and our strategy requires us to address both," he said.

Under new chief Spierings, the cooperative expanded its senior management team with a greater regional focus to latch on to opportunities in emerging markets. Fonterra management previously operated under large silos headed up by handful of executives, and the dairy exporter wanted to reduce the complexity and potential for duplication under the existing model.

The new Asia Pacific/Middle East/Africa unit will be headed by Mark Wilson, Fonterra's existing managing director of ASEA/Middle East/North Africa, effective from January.

"Mark Wilson is a very experienced global business leader who has grown our Asian business from strength to strength and we know he will do a great job in this expanded new role," Spierings said.

Yesterday, Fonterra said it will open its first official operating office in Delhi, India next year, with Hamish Gowans appointed general manager in India.

Last week the dairy exporter scotched speculation it was among bidders for a controlling stake in India's Tirumala Milk Products.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Sky City : Auckland Convention Centre Cost Jumps By A Fifth

SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further gambling concessions ruled out. The Auckland-based company has increased its estimate to build the centre to between $470 million and $530 million as the construction boom across the country drives up building costs and design changes add to the bill.
More>>

ALSO:

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Science Policy: Callaghan, NSC Funding Knocked In Submissions

Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s draft national statement of science investment, with science funding largely seen as too fragmented. More>>

ALSO:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news