Managers at Fonterra Cooperative Group waited days before escalating a clostridium bacteria contamination that led to a global recall up to chief executive level, according to the dairy giant?s own operational review. As a result of the review, Fonterra is to create a new role of group director of food safety and quality, answering direct to the CEO. It will …

Fonterra Cooperative Group’s tainted food scare has claimed its first scalp with the resignation of NZ Milk Products managing director Gary Romano. Romano, who initially fronted for Fonterra to New Zealand media while chief executive Theo Spierings went to China, has resigned effective immediately, the dairy company said in a statement. Spierings will personally assume interim responsibility for the daily …

SkyCity Entertainment Group shares fell to a seven-month low after the casino and hotel company posted an 8 percent drop in full-year profit that included weaker earnings from its Auckland business. The shares dropped 3.7 percent to $3.95 after the company reported net profit fell to $127 million in the year ended June 30, from $138.9 million, a year earlier. …