Wattle Health Australia Ltd (ASX: WHA) provides Australian made health and wellness products to its customers. In April 2018, the company completed a Joint Venture Agreement with the organic dairy farmers (ODFA) to form Corio Bay Dairy Group (CBDG).
Today (7 March 2019), the company announced the appointment of highly experienced Dr. Tony Mckenna as the Chief Executive Officer (CEO) of CBDG. Dr. Tony Mckenna is having over 30 years of experience in the dairy industry primarily in nutritionals, both domestically and internationally.
Most recently, he was employed at Saputo Australia as Senior Vice President (Director) of Ingredients, Nutritionals and China. And before that, he was employed by Saputo Australia as Director of Global Business Development of Whey and ingredients.
Dr. Tony Mckenna has also served as CEO of Bodco Limited and he was responsible for the establishment and start-up of the business. During his employment period, he restructured the senior management team and completed the required Chinese registrations including the brand registrations for Nouriz (Shanghai Ltd.). He was also the part of the project team in the Mataura Valley Milk Plant construction.
Dr. Tony Mckenna is a highly educated person as he holds a Ph.D. in Food Technology from Massey University and a Diploma in Management from New Zealand Institute of Management.
While commenting on his appointed as CEO of Corio Bay Dairy Group, Dr. Tony Mckenna told that he is excited to be leading Corio Bay Dairy Group. According to him, this is a great opportunity to drive a high margin business from a differentiated milk source through farm-to-consumer partnerships.
While commenting on Dr. Tony Mckenna’s Appointment, the company’s Executive Chairman. Mr. Lazarus Karasavvidis said, the appointment of Dr. Tony Mckenna as CEO of CBDG is an outstanding achievement which will drive and develop the first dedicated Australian organic nutritional business.
CBDG is currently constructing Australia’s first dedicated nutritional organic spray dryer in the Geelong region on land near ODFA’s existing operations. WHA is going to have a 45% interest in CBDG and Niche Dairy Pty Ltd (Niche). Niche Dairy is a founding partner of one of the largest nutritional dairy processing plants, Blend and Pack Pty Ltd (B&P), and it is having a 5% interest in CBDG. ODFA, through the guaranteed supply of fresh organic milk to ODFA, will hold 50% of CBDG.
The company recently announced its plans to grab a bigger slice of Bend & Pack’s dairy business.
Now, let’s have a glance at the company’s stock performance and the return it has posted over the past few months. The stock is trading at a price of $0.885, up by 0.568% during the day’s trade with a market capitalization of ~$171.16 Million as on 7 March 2019 (AEST 1:04 PM). The counter opened the day at $0.880 and reached the day’s high of $0.895 and touched a day’s low of $0.875 with a daily volume of ~ 236,263. The stock has provided a year till date return of -3.30% & also posted returns of -23.48%, -2.76% & -11.56% over the past six months, three & one-months period respectively. It had a 52-week high price of $2.657 and touched 52 weeks low of $0.860, with an average volume of ~ 236,263.
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