Chairman of Arla Foods Åke Hantoft announces plans for his retirement

The Chairman of Arla Foods amba, Åke Hantoft, 65, has announced his intention of retirement in the near future and has put his dairy farm in Ösarp, Sweden on the market as a going concern.

As a consequence of his retirement plans, Åke Hantoft has informed the Board of Directors of Arla Foods amba that he, in accordance with the Company’s corporate governance guidelines, will retire as Chairman of the Board and step down from the Board of Directors at the Board of representatives meeting in May 2019 or when the sale of the farm is completed, whichever happens first. The Board of Directors is implementing its succession planning process to appoint the Company’s next Chairman.

“My wife and I have decided that now is the right time to announce our intention to retire. We have both turned 65 and have dedicated many years to our farms and to Arla Foods. Now we want to dedicate more time to our family and each other, and, as our three children all have established careers outside of dairy farming, we have made the decision as a family to put our farm on the market.

“It is an honour for me to have led and continue to lead Arla Foods as we continue to modernise and internationalise our business through the delivery of our Good Growth 2020 strategy. However, having now made my retirement plans, it was important for me to give the board sufficient time to run the succession planning process, which is why we are making this announcement now.”