Ridley Corp. will implement a new organizational structure and mill rationalization. The company board has approved an internal restructure plan which will see a significant reduction in staffing levels throughout the organization. A leaner, simplified and flatter reporting structure has been proposed to improve customer alignment while removing an estimated $5 million annualized costs from the organization.
Quinton Hildebrand, Ridley CEO and managing director, said that “the new structure will remove a number of layers in certain parts of the organization, will provide clear lines of accountability and will facilitate a more proactive relationship with our customers. We will continue to leverage our centralized procurement purchasing and nutrition expertise to deliver a compelling customer value proposition.”
Gary Weiss, Ridley chair, said that “we have charged our new CEO with the responsibility to focus Ridley on its domestic growth plans, leverage its state-of-the-art facilities and accelerate the commercialization of its NovaqTM franchise internationally. In order to maintain our customer value proposition and facilitate growth in all our markets, it is essential to have a competitive cost structure from which to leverage Ridley’s nutritional expertise, merchandizing capability and production know-how. This structure is an important step towards meeting the board’s objectives.”
The company also said that the construction of its new feed mill at Wellsford, Bendigo in Central Victoria remains on target for completion in 2019 last quarter.