Hain Celestial to split into 5 different platforms
The five strategic platforms will help drive accelerated net sales and margin growth.
The Hain Celestial Group, Inc., Lake Success, N.Y.,commenced a strategic review under Project Terra, identifying approximately $100 million in global cost savings, which it expects to achieve during fiscal years 2017-2019. These initiatives include optimizing plants, co-packers and procurement, rationalizing the company's product portfolio and reinvesting these incremental savings into the business to further brand building efforts and household penetration.
Effective immediately, James Meiers was appointed to the newly created position of chief operations officer, responsible for achieving cost savings across the company’s worldwide operations.