Divestment means Fonterra can focus on its strengths
OPINION: Fonterra's board has certainly presented us, as shareholders, with a major issue to consider.
The establishment of the Chair is part of Fonterra's $40 million investment in the seven year, $72 million post-farmgate Primary Growth Partnership (PGP) announced in August 2010 which sees Fonterra join forces with the Ministry of Agriculture in the New Zealand Government, DairyNZ and other industry players in a $170 million research programme set to drive new value in the dairy industry.
Fonterra's General Manager - Dairy Primary Growth Partnership Arie Geursen says the new Chair would support Fonterra's recent Strategy Refresh, which has a strong focus on advanced nutrition for mothers and babies, and enhancing the mobility of seniors.
"Professor Sally Poppitt has had a longstanding involvement in dairy nutrition for health and wellness, collaborating both directly with Fonterra and within the LactoPharma research consortium investigating the role of dairy foods and ingredients in adult health," Geursen says.
"Sally is ideally placed to hit the ground running and assist the Primary Growth Partnership in its goals to support the long-term transformation of the New Zealand Dairy Industry."
Prior to her appointment to the new Chair, which commenced on 3 May, Poppitt was Associate Professor in Nutrition at the University of Auckland where she held lecturing and research positions in both the Department of Medicine and the Faculty of Science. She is also the founder and Director of the University's Human Nutrition Unit where her research has focussed on the prevention and treatment of conditions arising from poor nutrition.
The University of Auckland Vice Chancellor, Professor Stuart McCutcheon has welcomed this appointment: "The University of Auckland is committed to an extensive platform of food and nutrition research. We welcome this further opportunity to work with Fonterra and the dairy sector," he says.
