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Fonterra fall-guy Gary Romano joins Shanghai Pengxin

Fonterra is supportive of its former NZ Milk Products manager Gary Romano joining Shanghai Pengxin.

We are happy for him. I think as an ex-employee of Fonterra he will add value and we wish him all the best of success in that new environment,” Fonterra chief financial officer Lukas Paravicini says.

Mr Romano resigned from Fonterra Cooperative Group last year during the botulism scare, and will now oversee the Chinese company's overseas operations including its New Zealand farms, the NZ Herald reports.

Romano's Linked In profile says he is "currently on the beach before becoming active again in 2014." He resigned as head of NZ Milk Products at Fonterra last August as the company embarked on a global recall of whey protein concentrate. The bacterium was eventually shown to be harmless.

He will become chief executive of NZ Milk Management and a director of Pengxin's two farm groups in the North Island and South Island, according to the Herald. Terry Lee, managing director of Pengxin's Milk New Zealand unit, didn't immediately return calls.

Lee's own role has been expanded, the report says, to president of overseas M&A for Pengxin Group

Pengxin acquired the 16 Crafar dairy farms after a controversial sales process and owns 74 percent of Synlait Farm Holdings. Its overseas interests include farms in South America and copper mining in the Democratic Republic of Congo, and it is exploring investment opportunities in Australia, South Africa, Cambodia, Argentina and Brazil, according to the Herald.

Pengxin executives met Prime Minister John key during his recent visit to China and wanted to know why it had been restricted from owning New Zealand dairy processing plants outright as other Chinese companies had been allowed to do, the report said.

(BusinessDesk)

Comments and questions
7

Was Judith the head hunter that placed him?

Good luck Mr Romano, you were treated disgracefully by the parliament created co-op, and unfortunately you will not be the last to be sacrificed on this devils alter.

Congrats Gary ! They are lucky to have you.

Corporate politics Fonterra style!
First he gets blamed for the botulism foul up(chief executive should have fronted).
Now he has been forced out.
The new CEO must see him as a threat for him to get such shabby treatment!
Best wishes to him for his future!
paleo

The Fonterra shareholders need to have a hard look at Fonterra senior management.
This has all the signs of a corporate assassination!
The CEO did not even give his farewell speech!
WG

The chief executive has been very absent during the whole "botulism scare"; is he still there?
liberte

These events never play out well
Hes landed in his career industry
At end of day he was Mr Factories