Saputo is creating a dedicated ingredients division on the back of an agreement to sell its UK dairy business to French peer Lactalis.
In a statement yesterday (23 September), the Toronto-listed branded and private-label dairy producer described the move as an "evolution of its organisational structure, designed to strengthen the company's ability to execute its strategic priorities".
The Canadian group said the new division would focus on expanding its "higher-value" dairy ingredients and "high-protein" products.
Steve Douglas has been appointed president and chief operating officer for the ingredients unit, with responsibility for the division's commercial, operational, innovation and growth initiatives.
Douglas will remain president and COO of Saputo's UK Dairy Division until completion of its previously announced sale to French dairy giant Lactalis.
Lactalis agreed in August to acquire the business for around £988m ($1.33bn), with the transaction expected to close by the end of the first quarter next year, subject to regulatory approval.
Saputo said the new division would help "accelerate innovation, strengthen commercial focus, and expand opportunities across global ...