Coutts Appointed Chair-Elect of Mainland Group
Source: dairynews.today
Fonterra has named Elizabeth (Liz) Coutts as the chair of Mainland Group, part of its consumer business divestment strategy.
Fonterra has designated Elizabeth (Liz) Coutts as the chair-elect of Mainland Group, the entity proposed to handle the divestment of its consumer business. Coutts, who is currently the chair of several listed companies including EBOS Group Ltd and Oceania Healthcare Limited, brings a wealth of governance experience.
She will lead Mainland Group as a non-executive chair should there be an IPO, guiding the firm’s strategic growth. The appointment of Coutts follows announcements earlier this year of Rene Dedoncker as chief executive-elect and Paul Victor as chief financial officer-elect. This move aligns with Fonterra's strategy to enhance shareholder value through its foodservice and ingredients sectors. The coop is exploring both trade sale and IPO as divestment options, with plans to review indicative offers from potential buyers. Coutts' proven leadership will be critical in securing a favorable outcome for shareholders.
Fonterra aims to return significant capital to its farmer shareholders and unit holders after the divestment, pending their approval. The outcome aims to foster growth for the coop's consumer brands under a potentially new ownership structure.
She will lead Mainland Group as a non-executive chair should there be an IPO, guiding the firm’s strategic growth. The appointment of Coutts follows announcements earlier this year of Rene Dedoncker as chief executive-elect and Paul Victor as chief financial officer-elect. This move aligns with Fonterra's strategy to enhance shareholder value through its foodservice and ingredients sectors. The coop is exploring both trade sale and IPO as divestment options, with plans to review indicative offers from potential buyers. Coutts' proven leadership will be critical in securing a favorable outcome for shareholders.
Fonterra aims to return significant capital to its farmer shareholders and unit holders after the divestment, pending their approval. The outcome aims to foster growth for the coop's consumer brands under a potentially new ownership structure.
