Dairy firm Arla Foods, which produces brands such as Arla, Lurpak and Castello, has announced that the chairman of its board of directors, Åke Hantoft, is set to retire.
Hantoft announced his intention to step down from the position in May 2019, or when his dairy farm in Ösarp, Sweden, has been sold.
“It is an honour for me to have led and continue to lead Arla Foods as we continue to modernise and internationalise our business through the delivery of our Good Growth 2020 strategy," said Hantoft.
"However, having now made my retirement plans, it was important for me to give the board sufficient time to run the succession planning process, which is why we are making this announcement now.”
Arla says that it is now implementing the succession planning process to appoint the company's next chairman.
Company Changes
In September, Povl Krogsgaard announced his retirement from his position as the group's vice-CEO, executive board member, and head of supply chain.
Krogsgaard is set to retire on 31 December 2017, and will be replaced by Sami Naffakh, who has been named executive vice president and head of supply chain.
Arla Foods is an international dairy company owned by 11,200 farmers from Denmark, Sweden, the UK, Germany, Belgium, Luxembourg and the Netherlands.
The group posted a 3.4% increase in revenue to €5 billion in the first half of 2017.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
