Miles Hurrell: Fonterra CEO Explains the Reasoning Behind Selling Off Consumer Brands
Source: dairynews.today
Fonterra is considering selling its consumer brands like Anchor and Mainland following a strong 16% rise in operating profit for the half-year.
Fonterra is providing insights into its consumer brand sell-off plans. Following a significant half-year result with a 16% increase in operating profit, the company is contemplating the divestment of brands such as Anchor and Mainland.
CEO Miles Hurrell emphasized the importance of recognizing company strengths and hinted that greater returns could be achieved by redirecting investments into ingredients and food service sectors. This move is part of a broader strategy, as Fonterra's leadership, including senior management and the board, engages in discussions with stakeholders about potential avenues, including a trade sale or IPO.
"Fonterra's focus is on maximizing returns from their core operations," said Hurrell.
As geopolitical tensions persist globally, with significant events in Ukraine and Gaza, these variables remain in the backdrop of Fonterra's strategic considerations. This foresight coincides with positive forecasts for the upcoming seasons, which are viewed optimistically amid prevailing uncertainties. Hurrell addressed the significance of stakeholder engagement and awareness, as conversations among stakeholders remain vibrant, reflecting the pivotal nature of these decisions for Fonterra's farmers and overall business strategy.
CEO Miles Hurrell emphasized the importance of recognizing company strengths and hinted that greater returns could be achieved by redirecting investments into ingredients and food service sectors. This move is part of a broader strategy, as Fonterra's leadership, including senior management and the board, engages in discussions with stakeholders about potential avenues, including a trade sale or IPO.
"Fonterra's focus is on maximizing returns from their core operations," said Hurrell.
As geopolitical tensions persist globally, with significant events in Ukraine and Gaza, these variables remain in the backdrop of Fonterra's strategic considerations. This foresight coincides with positive forecasts for the upcoming seasons, which are viewed optimistically amid prevailing uncertainties. Hurrell addressed the significance of stakeholder engagement and awareness, as conversations among stakeholders remain vibrant, reflecting the pivotal nature of these decisions for Fonterra's farmers and overall business strategy.
