Ann: The a2 Milk Company Investor Day 2021, page-147

After reading the presentation and spending the 4 hours listening to the overall presentation yesterday I think the first think that should be noted is the work that David has put in since taking over in February.
I think it has become obvious that David was thrown a hospital pass by previous management that, yes, Covid hit but they had been resting on the underlying sales growth and had not planned ahead for when that sales growth started to slow and the competition increased.

This is a comprehensive review and David has clearly laid out the path he is taking the company and now it is up to him to implement that path, a well spent 8 months start to the position and something that should have been in place already.

It takes time to turn such a large ship around, they have basically set a 5 year plan to achieve what they have laid out and return to figures just above what the company was achieving before Covid. With a few things falling into place if and when Covid normal sets in around the world we may just see some things push the company trajectory ahead of that, but any evidence of that won't be seen until the middle of 2022 more than likely.

A long road ahead, hopefully now we have the right person at the wheel to make it happen again.

If the chairman went, that just make the transformation path complete.