a2 Milk draws China veteran to board

Buy The a2 Milk Company Ltd.

It’s a trade that has seen a2’s shares double over the past year and its market cap balloon above $2.3 billion.

So there will be plenty of interest in a2’s newest director.

Street Talk understands the company has recruited former Johnson & Johnson China chairman Jesse Wu as a non-executive director, effective immediately.

Wu had a 30-year odd career working for big consumer goods companies in China and will no doubt be asked to lend his expertise on China sales and distribution to the local milk company.

The director joins the boardroom overseen by chairman David Hearn.

The appointment comes only weeks after a2 issued a positive trading update, where it told investors that sales of its infant formula into China had been strong.

And as a result of the better expected sales, the company said it was working with Synlait Milk, which manufactures its infant formula, to increase production levels.

Source: Financial Review

Link: http://www.afr.com/street-talk/a2-milk-draws-china-veteran-to-board-20170516-gw5pb8

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