Fonterra is signalling a full-year loss of up to $675 million for 2018-19.
Sessions on technology, climate change, developments in the workplace, vineyard replanting and many others got members thinking about the future and what it may hold for our sector.
The speed of change in the modern economy and society is incredibly rapid. Look back 10 years and a whole new lexicon was about to explode into our consciousness – GFC, too big to fail, quantitative easing etc. Combined with accelerated development of technology and infiltration of social media, it all confirms that change is the only constant!
Thinking Smart and Looking Ahead … it is for that reason in 2011 that NZW commissioned PwC to conduct a strategic review of the industry. That review has framed much of our focus over the past seven years, but times have moved on and earlier this year NZW commissioned PwC to conduct another review for us.
Members have already seen the outcomes from the first Review report. We have launched the New Zealand Wine Awards – to celebrate not just our wines but our regions and our people – and we have refocussed the Bragato Conference.
Over the next month or so the final report from PwC will be delivered to and considered by the NZW Board. On October 11 PwC will present their report to the Board while on 25 October the Board will meet to consider its response to the report. Shortly thereafter members will receive the report and be advised of the Board’s decisions.
I don’t know what will come out of the final Review report but I know the report and the resulting recommendations will be important. The review is not about the issues of today, rather it is about the opportunities and challenges of tomorrow. It is the epitome of Think Smart, Look Ahead.
So thank you to those of you who participated in the two-member surveys conducted as part of the Review – and watch out for the review outcomes coming your way soon.