CEO of Vegemite owner Bega exits after six years

Paul van Heerwarden, who has been the chief executive of Bega Cheese for six years, will depart early in 2023, as the dairy and drinks group grapples with annual costs that have jumped by up to $400 million as farmgate milk prices climb higher than expected.

Price rises on many products in the Bega portfolio in the September quarter have been able to offset some of the cost imposts, which the company said was running at between $30 million to $35 million per month.