Thursday, December 7, 2023

A2 rejigs the executive chairs

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Exec in charge of Aus and NZ to replace outgoing US chief.
Managing director David Bortolussi thanked the departing executives, Blake Waltrip and Bernard May, for their contributions.
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A2 Milk has gone through an executive reshuffle that will see immediate changes in its United States, Australasian and Mataura Valley Milk businesses. 

The milk marketing firm’s US chief, Blake Waltrip, is leaving the company after seven years and being replaced by the executive general manager of Australia and New Zealand, Kevin Bush. 

Bush’s relocation will see chief strategy officer Eleanor Khor take on responsibility for the Australia and NZ businesses in a new role as managing director of ANZ and strategy. 

Chief of Mataura Valley Milk Bernard May is also leaving and will be replaced by John Roberts as interim general manager. He is supporting the group’s chief supply chain officer, Chopin Zhang, to speed up changes at A2 Milk to develop its internal infant formula manufacturing capability. 

The company said several other changes have been announced internally within the US and Mataura Valley Milk businesses. 

The focus for the US business will be to achieve profitability while the Australia and NZ unit will speed up innovation, including capturing the potential of A2 Milk’s lactose-free product.

Managing director David Bortolussi thanked May and Waltrip for their respective contributions.

A2 Milk was surprised by manufacturing partner Synlait Milk last month when the processor of A2’s Platinum formula brand downgraded its earnings outlook, citing reduced demand among its reasons. 

The typically volatile shares closed at $5.76 on Monday and have dropped almost 22% so far this year, lagging behind the 4.1% increase on the S&P/NZX 50 Index.

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