Tag Archives: Fonterra

Fonterra Cooperative Group, the world’s largest dairy exporter, only told staff about the potential for hundreds of jobs to go several hours after chief executive Theo Spierings told media. Spierings fronted up to the media yesterday morning after widespread conjecture over a review underway and the involvement of business management consultant McKinsey & Co, and criticism over the cooperative’s underlying management …

Fonterra Cooperative Group chief executive Theo Spierings said he’s determined not to allow the dairy cooperative to fall below its current 87 percent share of the New Zealand milk pool, despite increased competition for supply. Spierings fronted up to the media this morning after widespread criticism of the dairy cooperative’s management performance following a weak half-year financial result, lower forecast dairy …

Fonterra Cooperative Group, the world’s largest dairy exporter, said it will be laying off hundreds of its 1,500 head office and support function staff in a major reshape of the business following the global decline in dairy prices. Chief executive Theo Spierings has fronted up to media today about the restructure following widespread criticism over the dairy cooperative’s management performance at a …

 Danone Nutricia, the French-owned infant formula maker, has reported a full-year loss it attributes to ongoing fallout from the Fonterra Cooperative Group’s botulism scare in 2013. The New Zealand subsidiary of the French food giant posted a loss of $1.19 million for calendar 2014, compared to a profit of $1.99 million a year earlier. Danone Nutricia ended its supply contract with …

Fonterra Cooperative Group won’t confirm consulting firm McKinsey & Co is participating in a review of management performance at the world’s largest dairy exporter, even though its shareholders’ council has praised the appointment. The review was referred to obliquely in April as part of an announcement that Fonterra management team member Jacqueline Chow was being appointed to a new role – …

Fonterra Cooperative Group has opened applications for its farmer suppliers to lock in a guaranteed milk price for a portion of their milk in the coming 2015/2016 season in a price range of $4.85 per kilogram of milk solids to $5.25/kgMS, despite undersubscription for the last two offers. The upper limit matches the farmgate milk price forecast for the new season which …

Fonterra Cooperative Group, the world’s biggest dairy exporter, has cut its forecast payout to farmers by 20 cents, blaming volatile global commodity prices and an over-supply in international markets. The Auckland-based companies has reduced its forecast farmgate milk price to $4.50 per kilogram of milk solids from $4.70/kgMS, and retained its estimated dividend range of between 20 and 30 cents, …

Fonterra Cooperative Group, the world’s biggest dairy exporter, affirmed its milk payout forecast and lowered guidance for dividends, while posting a 16 percent drop in first-half profit it says reflected “tough conditions in dairy.” The forecast payout for the current season was affirmed at $4.70 per kilogram of milk solids, down from a record $8.40/kgMS last season, while guidance for dividends was …

Fonterra Cooperative Group’s managing director of its Asia Pacific, Middle East and Africa business unit, Pascal De Petrini, has resigned with immediate effect to take up a role with his former company and Fonterra arch competitor, the French food giant Danone, less than 18 months after moving to the world’s largest dairy exporter. De Petrini, who is a member of Fonterra’s management …

Fonterra Cooperative Group, the world’s largest dairy exporter, has acquired 18.8 percent of Shenzen-listed Beingmate Baby & Child Food, falling short of the stake of up to 20 percent it was seeking in a partial tender offer. The transaction, valued at 3,464 million RMB (NZ$755 million) is well above the $615 million Fonterra indicated it would cost for a 20 percent …