Westland dairy boss Rod Quin steps down

Rod Quin, the chief executive of Westland Milk Products, has resigned from New Zealand's second largest dairy co-operative.

Mr Quin has been running the Hokitika-based co-op for seven years after taking charge in April 2009. Chairman Matt O'Regan said Mr Quin played a leading role in the strategy of moving into more profitable added value products like infant formula and UHT milk, reducing farmers' dependence on the volatile bulk dairy commodities market.

"With our new Dryer Seven at Hokitika now operating, which was built specifically to produce high-value nutritional products, and the new UHT plant in Rolleston about to be officially opened – having received regulatory approval and with commercial orders in production – the key steps in this phase of our value-added strategy are established," O'Regan said. "So we support Mr Quin in his decision that now is an appropriate time for him to move on."

Mr Quin said the decision to leave was his alone: "It's simply time to go and let someone else bring their energy and style to the business."

He expects the dairy market, currently in the doldrums, would revive, saying "I have every confidence the cycle will turn and Westland will, as a result of the strategic measures we have made, be a stronger company well into the future." Quin will stay until his replacement is appointed.

Quin joined Westland from Fonterra Cooperative Group, where he had been a global account director in Switzerland. He had previously been Fonterra's sales director for Europe and Russia, as well as president and representative director for Japan and Korea. He replaced Scott Eglington, who suffered a brain injury while skiing near Wanaka.

Westland saw revenue grow sharply under Quin. Between 2010 and 2014, annual reports show turnover almost doubled to $830 million from $422 million. However 2015 saw turnover decline to $639 million, reflecting the end of the dairy boom. Last month it cut its dairy payout predictions for its farmers to $4.15 to $4.45 per kilogram of milk solids, down from $4.90 to $5.30/kgMS.

(BusinessDesk)