New Zealand dairy cooperative Fonterra has announced its FY18 annual results, the plan to improve its business performance and the outlook for FY19, including a review of its investment with Chinese company Beingmate.
Fonterra Co-operative Group has announced Miles Hurrell will take over as the New Zealand cooperative’s interim chief executive with immediate effect, and the search for a new CEO will temporarily be halted.
New Zealand’s Fonterra Co-operative Group said it welcomes the appointment of Bao Xiufei to the role of general manager of Beingmate Baby & Child Food Co Ltd. Fonterra has an 18.8% share in the Chinese food company.
New Zealand cooperative Fonterra, the world’s largest dairy exporter, is expanding its online presence to consumers in Southeast Asia for the first time through a new partnership with Lazada, an online shopping destination in the region.
Dairy exporter Fonterra has claimed that its proposed acquisition of New Zealand Dairies’ (NZDL) Studholme processing plant will boost competition for raw milk on the country’s South Island, rather than reduce it.