Westland Milk chief to step down
HOKITIKA: Westland Milk, now owned by China’s Yili, said the company’s chief executive Toni Brendish would step down effective from Friday after four years in the role.
Hokitikabased Westland, which was sold to Yili for $588 million, recently completed its first year under new ownership.
‘‘As part of this, [Ms] Brendish has reflected on her personal goals for the next five years and has decided to step down from her role to allow a new leader to take Westland into the future with Yili,’’ the company said in a statement.
Yili also owns Oceania Dairy, in South Canterbury.
Responsibility for Ms Brendish’s role will be assumed by Shiqing Jian, resident director for Westland Dairy Co and Oceania Dairy.
Mr Jian said Ms Brendish had been CEO of Westland during its most difficult years.
‘‘Repositioning Westland away from an historical commodities producer to a modern company with hugely successful branded products such as Westgold, as well as segregated milk products among other key innovations, has ensured that Westland will continue to be part of the New Zealand dairy industry for the next generation,’’ Mr Jian said.
‘‘Yili is grateful to Toni for her stewardship of Westland over the past 12 months as we transitioned to Yili ownership,’’ he said.
Ms Brendish said it had taken ‘‘an enormous amount of work to move Westland towards profitability, but I am confident that Westland is now in a position to achieve this’’.
Mr Jian said demand for Westland and Oceania’s products was continuing to rise internationally, demonstrating the value that global consumers place on New Zealand dairy goods.
‘‘We are convinced that the future for the dairy industry in New Zealand is a very bright one indeed,’’ Mr Jian said.
Yili said last year that Westland Milk would form part of its ‘‘dairy silk road’’.
The sale meant shareholder farmers in the former coop received a payment of $3.41 per share, a 10year guaranteed competitive milk payout, and guarantees all milk would be collected. — The New Zealand Herald