Sunday, April 21, 2024

A2 Milk reorganises Asia Pacific division

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A2 milk is reorganising its Asia Pacific division into three business units and announced two new appointments.
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The move follows the resignation of chief executive for Asia Pacific Peter Nathan. It also comes as the company struggles to regain traction after a series of profit warnings as covid-19 severely restricted its daigou, or cross-border, trade into China.

The stock last traded at $7.60 and is down 62% over the past 12 months.

“Together these appointments and organisational changes will provide more dedicated leadership and focus on key components of our business and improve execution going forward,” chief executive David Bortolussi said.

The Asia Pacific division comprises the vast majority of a2 Milk’s business.

Chief executive officer for Greater China Xiao Li will report directly to Bortolussi and will continue to be responsible for the company’s China label infant milk formula and other domestic business.

Yohan Senaratne will join the company on Thursday in the role of executive general manager – international, reporting to Bortolussi.

Senaratne will be responsible for leading the company’s cross-border export business, primarily focused on English label IMF products manufactured in New Zealand and sold into China, but also including liquid milk and other nutritional products.

The international team will be responsible for managing English label IMF products sold through all channels, principally via the daigou/reseller and cross-border ecommerce channels. The international team will also be responsible for developing the company’s business in emerging markets.

Senaratne joins a2 Milk from his most recent role as sales and marketing director at Bellamy’s Organic.

Kevin Bush will join the company’s executive leadership team in the new role of executive general manager – Australia and NZ, also reporting to Bortolussi.

He will be responsible for leading the company’s business in ANZ with a focus on continuing to grow the liquid milk business in the near term as well as “evolving its strategy to realise the full potential of the brand”.

He has held the role of sales director for Australian and NZ at a2 Milk for the past five years. He begins his new role today.

Earlier this month, investors were cheered when a2 Milk announced it had snagged a new chief marketing officer from Danone. Edith Bailey is due to start her new role later in 2021.

BusinessDesk

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