USA – Co-operative group Land O’Lakes has outlined a new plan to put the company back on track.

Speaking at the Land O’Lakes annual meeting, president and chief executive Jack Gherty said that the company should focus on its staff, on competing on its core business and on “accomplishing the company’s key portfolio initiatives”.

The new plan for the company includes selling off its pig business. For the dairy side, Geherty said that Land O’Lakes must focus on its value-added products.

Geherty went on to express his confidence in the company’s future performance. “Given the growth of the company over the past few years, this should result in targeted returns on invested capital in the 13 to 15% range,” he said.