Danish-Swedish dairy giant Arla Foods has found a new CEO to heal its wounds after the last-minute cancellation of its marriage with Dutch rival Campina, daily newspaper Jyllands-Posten reported on Wednesday.
The new CEO, 42-year-old Peder Tuborgh, has served as the company's concern director in the Nordic region since 2002. He is to replace Swedish Åke Modig, who resigned after the Campina merger collapsed in April.
'I find it important that we in Arla Foods succeed at developing our talent for understanding and servicing consumers with the right products in every country where we are represented,' Tuborgh said in the first statement in his new office.
Arla Foods' board of directors said they considered Tuborgh the right person to lead the changes and development that the company is currently undertaking in order to survive hard competition on the international dairy market.