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Current COO Devin Cole is retiring from the US meat giant.
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The dairy major plans to increase capital expenditure to “lean into disciplined high-return investments”.
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The board of the dairy and food company has appointed Matti Lehmus as Hurme’s successor, effective from 1 January.
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The sale follows the termination of Arla's planned takeover of Them Andelsmejeri in April due to competition concerns.
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“Rising cereal prices underscore vulnerability to weather-related risks and disruptions in energy and input markets,” FAO director says.
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Dana McNabb took the COO role on 1 June and has emphasised a thrust in innovation to drive volumes.
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The Nan brand owner is to work with a US start-up on seeing how “bioactive proteins” can be incorporated in infant formula.
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The FAO report said global antimicrobial use (AMU) in livestock may touch 143,481 tonnes by 2040 under a “business-as-usual pathway”.
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The closure is expected to impact around 110 employees and result in $80m to $110m in pre-tax charges.
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