Fonterra has dropped ambitions to be a global dairy giant sourcing milk from around the world in a new business strategy which dictates "less is more".
New Zealand's biggest company, cleaning house after a disastrous FY19 financial performance, says milk value, not volume, is its new creed and New Zealand milk is king.
The days of designing its whole business around maintaining its boast of having 30 per cent of the global dairy export market are over. Also dropped is the slogan goal of "making a difference in the lives of two billion people" around the world.
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• Fonterra's new strategy: all you need to know
Business and investment energies will be more targeted and prioritised.