Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
He replaces Synlait Milk co-founder John Penno, who will retain a governance role in the company.
Clement was Fonterra’s Managing Director of Fonterra Brands New Zealand and prior to that was their Managing Director of Sri Lanka and Indian Subcontinent.
Having held numerous senior leadership positions throughout his career, Clement is excited by the opportunities Synlait has created and is looking forward to taking on the role of CEO.
“I’m passionate about New Zealand agriculture, and growing people and businesses in a sustainable way,” says Clement.
“That’s why I’m so excited to be joining the Synlait team at such a pivotal time. The progress to date is impressive and under John’s leadership Synlait has achieved some significant milestones, which have set the business up well for the next phase of growth.”
“The business is in fantastic shape and we will continue to target sustainable growth by leveraging the potential within our organisation, as well as the potential in the markets and customers we partner with,” adds Clement.
Synlait chairman Grame Milne says Clement has led major businesses internationally, specifically in Vietnam and Sri Lanka, and has deep experience in the branded dairy sector.
“He brings a broad range of skills and experience that is relevant to Synlait’s future strategic initiatives.”
