CODVIP lucky slots
2024-11-09 02:35 Views:71
The CEO of Monde Nissin Corp.’s alternative meat business has stepped down as the unit continued to struggle in the first nine months of the year, resulting in an overall modest growth for the maker of Lucky Me! instant noodles.
In a stock exchange filing on Thursday, Monde CEO Henry Soesanto said Quorn Foods CEO Marco Bertacca had decided to relinquish his post to allow the business to “benefit from new ideas and renewed energy.”
Article continues after this advertisement“I thank him for his hard work during a very difficult time during the COVID pandemic,” Soesanto said.
FEATURED STORIES BUSINESS Tesla in the Philippines: Cheaper model priced at P2.1M BUSINESS Global food prices reach 18-month high — FAO BUSINESS PSEi surrenders 7,000 on Trump winREAD: Monde nets P5.1B in first half of 2024
Bertacca will be replaced by David Flochel, a former executive of brewing company Heineken, in January 2025.
Article continues after this advertisementThis came as the net income of Monde, which is also behind SkyFlakes crackers, rose by 5 percent to P6.1 billion in the January to September period.
Article continues after this advertisementRevenues also saw a modest 3.2-percent increase to P61.1 billion, driven by the Asia-Pacific branded food and beverage unit (Apac BFB).
Article continues after this advertisementIn the third quarter alone, Monde said the group’s net profit declined by 13.8 percent to P2 billion because of an impairment loss and restructuring costs at Quorn.
Quorn narrowed its net loss by 13.7 percent to P655 million, while net sales declined by 2.1 percent to P10.1 billion.
Article continues after this advertisement“Given the continued challenges in the meat alternative business, we plan to streamline costs and simplify operations through a restructuring and business transformation that will affect all parts of the organization,” Soesanto said, adding that they expected a better performance from Quorn next year.
Quorn previously said pricing was a particular barrier to attracting more “flexitarian” customers, or those with a semi-vegetarian diet, as they moved to less expensive choices.
Subscribe to our daily newsletter
Powered by CODVIP|CODVIP lucky slots|CODVIP slots bonus @2013-2022 RSS地图 HTML地图