A2 Milk goes sour on poor board decisions

A2 Milk goes sour on poor board decisions
Former A2 Milk CEO Jayne Hrdlicka.
Brian Gaynor
It is hard to believe the A2 Milk Company has fallen from the second to thirteenth largest NZX company, in market value, since this time last year.In mid-May 2020, most broker analysts had a buy or hold recommendation on the stock but since then its market value has dived from $14.4 billion to $4.5b.There are several important lessons to be learned from this debacle, including the requirement for boards to have clear succession plans for CEOs and directors. Management succession Geoff Babidge, who was appointed A2 managing director in...

More Markets

NZ sharemarket up 0.4% after a2 Milk surge
Markets Market Close

NZ sharemarket up 0.4% after a2 Milk surge

The S&P/NZX 50 Index closed at 12,266.25, gaining 57.2 points or 0.47%.

Goldman Sachs downgrades Fletcher Building to sell
Markets

Goldman Sachs downgrades Fletcher Building to sell

Goldman Sach analysts have a 12-month target price of A$2.85 ($3.14).

Rayonier exits NZ with $1.2b forestry sale
Primary Sector

Rayonier exits NZ with $1.2b forestry sale

An investment firm bought the stake, which included 116,145 hectares of forestry.

NZME board told 'compromise or be rolled'
Markets

NZME board told 'compromise or be rolled'

Minority shareholders are falling in behind billionaire Jim Grenon's board coup.