Yeah definitely agree. Irrespective of what the market thinks,...

Yeah definitely agree.

Irrespective of what the market thinks, it's a sensible move to restructure the role like this. It's clear from the past year that Peter Nathan's role ballooned much more multi-faceted than he could handle, at least not when a major external crisis emerged.

I mean, when you see it broken down into separate roles, you can see how much was ultimately coming back to PN. I was actually a bit surprised to see that Xiao Li was not already a direct report to the MD/CEO, but this is a no-brainer. Great also to see that the ANZ role is given to someone internal who was apparently instrumental in growing fresh milk sales - as they have knocked that out of the park consistently for a long time.

The new guy is an interesting one and arguably the most important. They have managed to poach someone from another rival (albeit a much smaller one) but with experience that is about as relevant as you could hope for. Extensive background in e-commerce + spent time at Bellamy's (post the Laura McBain / car-crash period) so not an unfamiliar situation to step into at all. Also good that they kept the 'daigou' and 'CBEC' responsibilities together given how closely linked they appear to be.

Next I'd like to see them take a close look at USA CEO Blake Waltrip... Not saying he should necessarily go but I would like to see what the plan is for the next 2-3 years.