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

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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