New Zealand-based dairy and infant formula manufacturer A2 Milk Co. has revealed that its chief financial officer (CFO) Craig Louttit is to step down and will be replaced by Race Strauss.
Louttit, who is said to be resigning the CFO position to spend more time with his family, will remain with the company as deputy CFO.
In an announcement to the New Zealand and Australia stock exchanges, A2 said Strauss will be joining in the second half of its 2020 financial year.
Strauss previously worked for Anglo-Dutch consumer goods giant Unilever for 20 years where he held senior roles including in Unilever’s ice cream business in China and its global mergers and acquisition team based in the UK. He also held senior finance and strategy roles in South East Asia and Australasia at the company.
“He has proven his ability to build and grow businesses across a diverse range of sectors and geographies both organically and via acquisition,” A2’s statement said.
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More recently Strauss has been the CFO for Qantas Airlines, a division of the Qantas Group.
A2 managing director and CEO Jayne Hrdlicka said “Craig has been such a strong support for me and I am very pleased that we have been able to solve for Craig’s personal priorities while keeping him in a senior position in the business. I am also delighted that we have filled the CFO role with someone of Race Strauss’ calibre and experience as we continue our growth journey.”
Louttit said: “I am delighted that I am able to continue to be a key part of the team, but without the extensive travel demands of the public company CFO role. Race will be a great addition to the team. I am looking forward to working closely with Race as we continue to develop our thinking and execution as a company firmly focused on its next stage of growth.”
Louttit will remain in the CFO role until Strauss joins the company.
