Today Fonterra announces that Lukas Paravicini, the Chief Operating Officer of its Consumer & Foodservice business, has resigned. Lukas is set to leave the Co-operative in January 2019 as he and his family plan to return to Europe.
Fonterra’s Chief Executive Officer, Miles Hurrell, said that Lukas first joined the Fonterra Management Team in 2013 as Chief Financial Officer and then went on to be the Chief Operating Officer for its Global Consumer & Foodservice business.
“During his time, Lukas was instrumental in maintaining the financial strength of the Co-operative, including through some years of low milk prices and challenging global conditions. He spearheaded initiatives such as the Farmer Support Loans, and championed Fonterra’s business transformation.”
Mr Hurrell noted that Lukas had moved seamlessly from Fonterra’s numbers man to leading its global consumer and foodservice businesses.
“The Co-operative thanks Lukas for his contribution, and wishes him every success in his next venture.”
An announcement on the appointment of his replacement will follow.
Fonterra and Nestlé today agreed the sale of their Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis for BRL 700m (approximately NZD $210m subject to closing transaction adjustments). The deal is expected to be completed by mid-2023, subject to regulatory authority approvals.
December 13, 2022
Fonterra Co-operative Group Ltd today upgraded its earnings guidance to 50 – 70 cents per share from 45 - 60 cents per share and lowered and narrowed its forecast Farmgate Milk Price range of $8.50 - $10.00 per kgMS to $8.50 - $ 9.50 per kgMS, with a midpoint of $9.00 while holding its advance rate. It also reported a strong start to the 2023 financial year.
December 08, 2022
Fonterra can today confirm that its new Flexible Shareholding capital structure is set to be implemented in late March 2023, subject to the Board being satisfied that the relevant preparations are completed before then.
November 25, 2022