Connect with us

General

Freedom Foods acting CFO resigns, new CFO appointed | Farm Online

Published

on


Embattled dairy processor Freedom Foods new chief financial officer Josee Lemoine has taken up the position this week.

Ms Lemoine’s appointment is a key part of the company’s move to try to rebuild after a disastrous 12 months.

In November the financially stretched food processor announced a $174.5 million statutory loss after tax for 2019-20 and a 125 per cent blow out in debt to $275 million.

It also admitted to a blowout in write-downs and revised financial reports totalling almost $600 million over several years during what was previously portrayed as a time of rapid growth.

This followed shock revelations in June of a board investigation finding a trail of unexpected debts, revenue shortfalls and outdated inventory at the company.

Then…



Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

SELX sheep and lamb market February 24 2021 | The Rural
Click Energy Brand to Close, 200,000+ Customers Moving to AGL