Weekly Roundup: Roquette and Barentz confirm European partnership for food, Fonterra releases Sustainability Report
30 Nov 2018 --- In business news this week, Roquette and Barentz reconfirmed their collaboration across key strategic European food markets. Fonterra released its second annual Sustainability Report covering its progress on environmental, social and economic goals, and Kalsec and EARTH University celebrate their long-running partnership in Costa Rica and Kalamazoo, Michigan. Robert Coviello was named as the new Executive Vice President & Chief Growth and Strategy Officer at Bunge, effective January 1, 2019, and Campbell Soup Company announced it would increase the size of its Board from 12 to 14 members.
In brief: Distribution partnerships
Roquette has reconfirmed Barentz as the preferred distribution partner for its food product range in European markets including Belgium, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Luxembourg, Macedonia, the Netherlands, Poland, Romania, Serbia, Slovenia, Slovakia and Turkey. During the month of December, the companies will work together to ensure optimal alignment in all countries. This new phase of cooperation will start on 1st January 2019. Having worked together in Food and Nutrition markets for many years, Roquette and Barentz’s decision to take their partnership to the next level is a logical step, according to reports. Laurent Cousin, Head of Global Distribution Management at Roquette, explains: “We are committed to providing our customers with high-quality plant-based ingredients and we have strong growth ambitions to serve our customers better worldwide. Barentz has been a key partner and we have always been growing together and we strongly believe in our cooperation in the market for high-quality specialties.”
In brief: Sustainability
Fonterra has released its second annual Sustainability Report covering how the co-operative is progressing towards its environmental, social and economic goals. CEO Miles Hurrell says the report is one of the ways Fonterra is showing where it needs to get to in sustainability. “There are areas where we’re leading our industry thanks to the hard work of our farmers, people and partners. But there are also areas where we’ve tried and haven’t hit the mark yet, and the report doesn’t shy away from that,” notes Hurrell. The Sustainability Report 2018 was prepared using the internationally recognized Global Reporting Initiative (GRI) Standards and has been independently assured. The report is organized into the three pillars of Fonterra’s sustainability framework – Nutrition, Environment, Community.
Kalsec and EARTH University are celebrating a 25-year partnership. In those years, students from EARTH University in Costa Rica have participated in Kalsec’s internship program in Kalamazoo. Kalsec recently hosted a reunion between several former interns and their host families to celebrate this achievement and to discuss ways to enrich the program further. “EARTH University is the most unique and special place. I first visited in 1992 and immediately fell in love with the students, faculty, administration and campus. It embodies the best that humanity has to offer in terms of fundamental values and our connection to each other and the planet,” says George Todd, Executive Chairman of the Board, Kalsec. “Over 40 countries are represented in the student body at EARTH with many coming from countries where our spices are grown and sourced.”
In brief: Appointments & retirements
Robert Coviello has been named Executive Vice President & Chief Growth and Strategy Officer at Bunge, effective January 1, 2019. Reporting to CEO Soren Schroder, Coviello is to drive the development of Bunge’s strategic plans, working alongside the executive committee to evaluate strategic alternatives and ensure Bunge’s strategy aligns with new trends and disruptive forces in the global agribusiness and food industry. Coviello currently serves as Managing Director, Southeast Asia and China. He joined the company in 2003 and had held a variety of commercial leadership positions in Asia, Europe and the US.
Jörg Riboni will relinquish his role as Chief Financial Officer (CFO) of the Emmi Group with effect from the 2019 General Meeting and Ricarda Demarmels is to be his successor. Demarmels will be taking on her duties at Emmi in June 2019. Demarmels is to be the new CFO of the Emmi Group and, in this role, a member of Group Management. Demarmels, a Swiss national, who grew up in Andeer in the canton of Grisons, currently works at ORIOR Group as its CFO and member of the Management Board.
Also this week, Campbell Soup Company and Third Point reached an agreement to the election of directors at Campbell’s 2018 Annual Meeting of Shareholders. Under the terms of the agreement, Campbell Soup Company will increase the size of its Board from 12 to 14 members and add two new, independent directors from Third Point’s proposed slate. Sarah Hofstetter, President of Comscore, and Kurt Schmidt, former Director and CEO of Blue Buffalo Company, Ltd will join the Board and in connection with this settlement, Third Point has agreed to a 12-month standstill and specific support commitments. The two parties have also decided that Third Point will provide input into Campbell’s ongoing CEO search process. The final decision regarding the Company’s permanent CEO will be made by the Campbell Board of Directors – including Hofstetter and Schmidt.
In brief: Other highlights
Aviko, a Royal Cosun company, and Snow Valley Agriculture have agreed to end their joint venture in China. Both partners concluded that their views on the growth in the Chinese market differ “to such an extent that there is too little basis to continue successfully together.” By constructive negotiations, the partners have agreed that Snow Valley Agriculture will take over the Aviko share package of 51 percent. Aviko will pursue its growth ambition in China from alternative sourcing lines, says the company. This agreement requires permission from the Chinese authorities. The transaction is expected to be completed by the end of this year, according to reports.
Finally, Ajinomoto Co. has signed an additional agreement with the Tokyo 2020 Organizing Committee of the Olympic and Paralympic Games to add Coffee Beans and Instant Coffee Powder/Granules to the Category of products Ajinomoto Co. is entitled to market as an Official Partner of the Olympic and Paralympic Games Tokyo 2020 (Tokyo 2020 Games).
By Elizabeth Green
