From the CEO

Welcome to the July CEO update. I hope this note finds you safe, healthy and, hopefully, still at Alert Level 1!

The fall-out from this year's events will have an impact on the primary sector for months and years to come.

Like every other industry, we need to evaluate how we operate in a post-COVID world. While New Zealand seems to be 'doing better' than other countries, 2020 will leave a scar on our economy. It is not as simple as 'bouncing back' and tourism is the most glaring example of an industry that needs to change its entire operating model in the short-term to survive.  The longer our borders remain closed to the outreaches of the world, the more revolutionary those changes will need to be.

Farmlands has taken the lessons to heart. While we are open for business, we are also open to re-evaluating how we operate as a business, to further protect the longevity of our business. We are asking ourselves questions with an eye on both the short and long term.

Could we better execute our strategies at a regional level? Given the unique requirements of our shareholder base geographically, we want to investigate how we could structure ourselves better in the provinces.

How do we adapt our supply chain to make full use of our scale and size? We want to look at using our size to do things in a way that gives us an advantage and a benefit to our shareholders.

What are the steps we need to make to further embed our investment from Braveheart? The system is now in place and Farmlanders have had an opportunity to get used to it with day-to-day work. We want to identify how we can use what we now have to derive even more value.

How do we create a more performance-based culture? As we strive to put shareholder success at the centre of everything we do, how can we build an organisation that continues to improve year on year?

We are currently seeking the answers by engaging with our people and understanding how COVID-19 has impacted our business. Given our shareholders are the critical part of our co-operative, we also want to better understand how COVID-19 has impacted your business.

In the lead up to spring, helping you to evolve, grow and succeed is at the centre of everything we plan to do.

All the best for the month ahead.