Thursday 12th August 2010
|Text too small?|
A2 Corp., the producer of A2 dairy products in New Zealand and Australia, has appointed Geoffrey Babidge as managing director, effective next month.
Babidge had previously served as chairman of A2 Dairy Products Australia, a joint venture formed by A2 and ASX-listed Freedom Nutritional Products.
Earlier this year, A2 Corp. bought the remaining 50% stake in the JV from Freedom Nutritional Products in exchange for a 25% stake in A2 Corp. Shares of the company last traded at 9 cents on the NZX and have declined 25% in the past 12 months.
Babidge will also serve as an executive director of Freedom Nutritional Products on a transitional part-time basis.
A2 Corp. produces dairy products that only contains the A2 type of beta casein protein, which it claims reduces the risk of several health conditions including heart disease, digestion problems and childhood diabetes. Standard milk contains both A1 and A2 beta casein proteins.
The New Zealand Food Standards Authority and the European Food Safety Authority have both issued reports on the risks of A1 proteins, stating that there is insufficient evidence to suggest that A1 milk has a negative effect on human health.
No comments yet
Telecom will offer CEO and senior managers performance equity grants to boost profits
Former Fonterra executive Alison Andrew appointed to head Transpower
MRP director Miller, CFO Meek go trawling for cheap shares
Rob Fyfe to leave Trilogy board, seeks new senior role in NZ
A2 Corp's Babidge, Mair take advantage of soaring price to sell 6M shares
A2 shares touch record-high as investors buy into growth story
A2 FY profit slips on cost of setting up UK joint venture, sales jump 51 percent as Australian shines
David Ross appears at District Court hearing, remanded until Aug.29
Crown drops charge against ex-SCF finance chief Graeme Brown
Postie Plus appoints No 1 Shoes executive Binns as new CEO