Land O’Lakes challenges food leaders
Ensuring the roughly nine billion people who are estimated to inhabit the planet by 2050 have enough to eat is a big challenge. That’s why Land O’Lakes has introduced new program to fund big ideas from future food leaders.
The company created the Global Food Challenge Emerging Leaders for Food Security fellowship, a unique internship and development program for 10 students at five universities. The fellowship will support the emerging leaders of tomorrow as they work to identify innovative and practical ways to meet the world's need for a 70% increase in global food production. The students, sophomores at the University of Minnesota, Purdue University, Iowa State University, Northwestern University, and George Washington University, will be matched with university professors who will help guide the research they conduct.
"Today we are expanding our investment in the leaders of tomorrow and giving them the tools and experience to start addressing one of society's most significant issues – ensuring food security," said Chris Policinski, president and CEO of Land O'Lakes. "There is no better way to help drive global security than to ensure food security. We are pleased to partner with these universities and hope to inspire these students to engage in the challenge of feeding a growing global population."
The fellowship will provide these students with the opportunity to engage with other future leaders and advocates for food and agriculture as they help educate others about the challenges and opportunities facing agriculture in the coming decades. Students were selected through a competitive application process from a broad range of education programs that deliver the mix of skills and experience necessary to bring news ideas to feeding the hungry around the world.
Plans call for the students participate in a series of "challenges," assignments designed to spur their thinking about food security issues throughout the academic year. The experience will culminate in an 11-week paid summer internship, which will begin in May 2015 and include travel to Africa, Washington, D.C., and key Land O'Lakes locations. The students will present their final projects to industry experts and leaders at The Global Food Challenge Summit, hosted in Fall 2015 at Land O'Lakes headquarters in Arden Hills, Minnesota.
eBay enables more commerce in Q3
Enabled commerce volume at eBay surged 27% in the company’s third quarter with cross border trade showing particular strength, but it wasn’t enough to prevent the company from revising downward its full year outlook.
The global commerce platform and payments company said revenues for the period ended September 30, increased 12% to $4.4 billion while earnings totaled $673 million, or 54 cents a share, compared to profits of $689 million, or 53 cents a share the prior year. EBay said the volume of commerce it enabled during the period increased 27% to $63 billion with cross border trade also growing 27% to now represent nearly a fourth of the total volume the company enables on its platform. Growing even faster was the volume of commerce enabled via mobile devices which advanced 67% to $14 billion.
“Rapidly changing competitive environments in commerce and payments underscore the opportunities for eBay and PayPal, and highlight how each business will benefit from the focus and agility of being an independent company,” said eBay president and CEO John Donahoe. “PayPal had another strong quarter, and its mobile payments leadership and momentum continued with mobile volume up 72% to $12 billion. PayPal is on track to process one billion mobile transactions in 2014. And eBay continues to focus on enhancing its competitive position, improving the experience for buyers and sellers and investing in consumer engagement. As we prepare to separate eBay and PayPal in 2015, our teams are focused on strong execution to ensure each business is set up for long-term success.”
PayPal net total payment volume grew 29% with merchant services volume up 37% and on-eBay volume up 9%. Revenue grew to $2 billion as PayPal gained 4.4 million new active registered accounts to end the quarter at 157 million, up 14%.
In the fourth quarter, eBay said it expects revenues to range between $4.85 billion and $4.95 billion and reduced its full year revenue guidance to a range of $17.85 billion and $17.95 billion.
Frascotti named top toy exec at Hasbro
Global branded play leader Hasbro, Inc. today announced the promotion of John Frascotti to the newly-created position of president, Hasbro Brands, effective immediately.
In this new role, Frascotti assumes the additional responsibilities of worldwide product development and now oversees all of the company’s global marketing and design and development teams. By combining the teams, the company will continue to drive strong innovation, maximize operational efficiency, facilitate greater collaboration and streamline decision-making.
“Across our organization, we are building a tremendous team that can inspire new ideas through our brands and execute them through our brand blueprint, in brand building and storytelling globally,” said Brian D. Goldner, president and CEO. “No one is better suited than John for this new leadership opportunity. His vision and consumer-centric approach will serve Hasbro and all of its stakeholders well as we continue to work side-by-side to deliver compelling brand expressions across generations and geographies.”
“I am incredibly honored to be leading this dynamic group of professionals,” said John Frascotti, president, Hasbro Brands. “This unified approach will enable us to continue to drive the momentum in our business and develop our brands holistically across platforms to meet the evolving needs of our global consumers.”
Frascotti joined Hasbro in 2008 as chief marketing officer. During his tenure, he led the re-imagination, re-invention and re-ignition of Hasbro's world-class brand portfolio and has been a key architect of the company’s branded play strategy.
Duncan Billing will now assume the role of executive vp, global operations and business development. In this new role, he will leverage his 25 year marketing, development and worldwide operations experience to identify new revenue streams, including new platforms and brands that leverage the company’s strengths and continue to lead Hasbro’s global manufacturing, sourcing and supply chain activities.
“As Hasbro continues to innovate in new areas of play and entertainment, I look forward to driving new strategic business opportunities and revenue streams for the company, while continuing to evolve our very capable operations function,” said Duncan Billing, EVP, global operations and business development.
Billing joined Hasbro in 1988 as group director, sales and marketing, for its U.K. subsidiary. He later transferred to the U.S., where he held