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

 

Department Of Conservation: Beech Mast On The Cards After Warm Summer

Climate modelling shows this year’s hot March has increased the chance of beech forest seeding next summer in parts of New Zealand, which could be bad news for native wildlife. The Department of Conservation (DOC) uses data from NIWA’s virtual climate ... More>>

Government: Delivering Lower Card Fees To Business

Commerce and Consumer Affairs Minister David Clark has today announced the Government’s next steps to reduce merchant service fees, that banks charge businesses when customers use a credit or debit card to pay, which is estimated to save New Zealand businesses ... More>>

SEEK NZ Employment Report: April 2021

OVERVIEW OF APRIL 2021: STATE OF THE NATION: April, for the second consecutive month, saw the highest number of jobs ever advertised on seek.co.nz. Applications per job ad fell 9% month-on-month (m/m). SEEK job ads were up by 12% m/m. SEEK job ads were ... More>>

Geo40: Global Plans To Recover Low-Carbon Lithium At Scale Accelerated By Investment Of Up To $7.5m By Pacific Channel

New Zealand’s leading sustainable, mineral-recovery company, Geo40 Limited has secured up to $7.5m in equity investment from New Zealand deep-tech specialist Venture Capital firm Pacific Channel to fast-track plans to develop its nascent lithium-from-geothermal-fluid ... More>>

Stats: Lower Job Security Linked To Lower Life Satisfaction

People who feel their employment is insecure are more likely than other employed people to rate their overall life satisfaction poorly, Stats NZ said today. New survey data from the March 2021 quarter shows that 26 percent of employed people who thought ... More>>

The Conversation: The Outlook For Coral Reefs Remains Grim Unless We Cut Emissions Fast — New Research

A study of 183 coral reefs worldwide quantified the impacts of ocean warming and acidification on reef growth rates. Even under the lowest emissions scenarios, the future of reefs is not bright. More>>