Data sharing initiative wins national award for saving farmers time
The work Fonterra has done with Ballance Agri-Nutrients Ltd, LIC and Ravensdown to save farmers time through better data connections has been recognised with a national award.
Fonterra's China business head Christina Zhu says its Beingmate joint venture needs a leadership revamp.
Zhu, Fonterra’s Greater China president and Beingmate joint venture board member, says performance starts with good people.
“Beingmate needs a strong leadership team and chief executive; Fonterra is in the process of working with Beingmate to ensure that’s in place,” she told Dairy News. “It is critical to have the right people at the helm; we are working on stepping up governance.”
This month Beingmate Baby & Child Food Co reported a net loss of $230 million for 2017, bigger than expected. Fonterra owns 18.8% of the company, which is listed on the Shenzen stock exchange but has been warned it risks being delisted.
Zhu, one of Fonterra’s two representatives on the Beingmate Baby & Child board, visited Auckland last week for a major farmer network conference.
She says Fonterra is disappointed with the result. “The deterioration in 2017 performance is unnaceptable; performance has to turn around.”
Zhu says the infant formula sector in China is growing and Beingmate is well placed.
“It has never had a food safety issue and still is a trusted brand with a well-positioned manufacturing footprint; there’s a lot going for them.”
She says an effective distribution network and strong leadership are missing.
Fonterra said last week in a statement that Beingmate’s announcement is of the audited results for February 2017 to January 2018.
“Its final losses for the year have increased by about $20m more than previously announced, which is disappointing but broadly in line with expectations, based on previous performance updates.
“The result further reinforces the urgency of Beingmate’s business turnaround plan. We continue to push for the appointment of a new independent chief executive, improved internal controls and a focus on unlocking the right distribution channels, which we believe are key to Beingmate realising its potential.”
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
Holstein Friesian excellence was front and centre at the 2025 Holstein Friesian NZ (HFNZ) Awards, held recently in Invercargill.
The work Fonterra has done with Ballance Agri-Nutrients Ltd, LIC and Ravensdown to save farmers time through better data connections has been recognised with a national award.
OPINION: Years of floods and low food prices have driven a dairy farm in England's northeast to stop milking its…
OPINION: An animal activist organisation is calling for an investigation into the use of dairy cows in sexuallly explicit content…