New Zealand dairy giant Fonterra has established a global consumer and foodservice business unit as it works to grow in these sectors internationally.
CEO Theo Spierings said the move would increase Fonterra’s focus behind its brands. “We have an ambition to have our consumer and foodservice brands at the number one and two positions in our eight key strategic markets. Lining up our markets and consumer and foodservice teams enhances our focus on delivering world-leading consumer brands,” he explained.
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The unit, which will include all consumer and foodservice brands in the group’s “key markets”, will be headed up by Jacqueline Chow, the cooperative revealed.
Previously, Chow had served as chief operating officer of “velocity and innovation”, overseeing Fonterra’s innovation initiatives. The post will be filled by Judith Swales.
Fonterra launched its foodservice brand, Anchor Food Professionals, in May. Announcing its first-half results in March, the company said it is focused on “efficiency” in the ingredients business while driving growth in value-added finished products. “We aimed to make the most of global consumption growth by building demand for higher-value products in our consumer and foodservice markets,” Spierings noted at the time.
