Expert Says Fonterra Backing Current Strategy With New CEO Appointment
The appointment of Richard Allen as Fonterra's new chief executive signals execution, not strategy, according to agribusiness expert Dr Nic Lees.
It seems to your old mate that most of the people with skin in the game – farmer shareholders – like the decision to strip the co-op down to a lean, mean commodity machine.
Fonterra’s track record in the consumer space hasn’t been stellar, and, if they keep their costs lean, stripping out the many fat salaries that come with a brands business, there’s nothing wrong with being one of the best dairy commodity producing businesses in the world.
Maybe they could also ditch that fancy office in Auckland! Let’s see that put to a vote!
