a2 Milk Management
Management criteria checks 2/4
a2 Milk's CEO is David Bortolussi, appointed in Feb 2021, has a tenure of 4.75 years. total yearly compensation is NZ$7.74M, comprised of 27% salary and 73% bonuses, including company stock and options. directly owns 0.21% of the company’s shares, worth A$14.54M. The average tenure of the management team and the board of directors is 4 years and 2.4 years respectively.
Key information
David Bortolussi
Chief executive officer
NZ$7.7m
Total compensation
| CEO salary percentage | 27.03% |
| CEO tenure | 4.8yrs |
| CEO ownership | 0.2% |
| Management average tenure | 4yrs |
| Board average tenure | 2.4yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2025 | NZ$8m | NZ$2m | NZ$203m |
| Mar 31 2025 | n/a | n/a | NZ$188m |
| Dec 31 2024 | n/a | n/a | NZ$174m |
| Sep 30 2024 | n/a | n/a | NZ$171m |
| Jun 30 2024 | NZ$7m | NZ$2m | NZ$168m |
| Mar 31 2024 | n/a | n/a | NZ$167m |
| Dec 31 2023 | n/a | n/a | NZ$167m |
| Sep 30 2023 | n/a | n/a | NZ$161m |
| Jun 30 2023 | NZ$6m | NZ$2m | NZ$156m |
| Mar 31 2023 | n/a | n/a | NZ$146m |
| Dec 31 2022 | n/a | n/a | NZ$137m |
| Sep 30 2022 | n/a | n/a | NZ$130m |
| Jun 30 2022 | NZ$4m | NZ$2m | NZ$123m |
| Mar 31 2022 | n/a | n/a | NZ$71m |
| Dec 31 2021 | n/a | n/a | NZ$20m |
| Sep 30 2021 | n/a | n/a | NZ$50m |
| Jun 30 2021 | NZ$2m | NZ$744k | NZ$81m |
Compensation vs Market: David's total compensation ($USD4.43M) is above average for companies of similar size in the Australian market ($USD2.21M).
Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.
CEO
David Bortolussi (56 yo)
Mr. David L. Bortolussi, BComm, FFin, FCA serves as Advisory Board Member at Whiteoak Pty Ltd. He served as Group President of Innerwear International at Hanesbrands Inc. since April 2019 until February 6,...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, CEO & Director | 4.8yrs | NZ$7.74m | 0.21% A$ 14.5m | |
| Chief Financial Officer | 3.1yrs | no data | 0.0087% A$ 602.7k | |
| Head of Investor Relations | no data | no data | no data | |
| Chief Legal & Sustainability Officer and Company Secretary | 9yrs | no data | 0.026% A$ 1.8m | |
| Chief Marketing Officer | 3.9yrs | no data | 0.013% A$ 926.9k | |
| Chief People & Culture Officer | 4.2yrs | no data | 0.011% A$ 746.8k | |
| Chief Executive of Greater China | 6.6yrs | no data | 0.10% A$ 6.9m | |
| Managing Director of ANZ & Strategy | 4.5yrs | no data | 0.021% A$ 1.4m | |
| Managing Director of USA | 2.3yrs | no data | 0.069% A$ 4.8m | |
| Managing Director of International | no data | no data | 0.019% A$ 1.3m | |
| Group Head of Finance - FP&A and Risk | 3.1yrs | no data | no data | |
| Chief Supply Chain Officer | 3yrs | no data | no data |
Experienced Management: A2M's management team is considered experienced (4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| MD, CEO & Director | 4.8yrs | NZ$7.74m | 0.21% A$ 14.5m | |
| Independent Non-Executive Director | less than a year | NZ$105.88k | no data | |
| Independent Non-Executive Director | less than a year | no data | no data | |
| Independent Non-Executive Director | 3.7yrs | NZ$208.79k | 0.00083% A$ 57.5k | |
| Independent Non-Executive Chairman | 6.3yrs | NZ$375.00k | 0.0041% A$ 286.8k | |
| Independent Non-Executive Director | 2.4yrs | NZ$200.00k | 0.0021% A$ 143.4k | |
| Independent Non-Executive Director | 1yr | NZ$121.00k | no data |
Experienced Board: A2M's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/11/28 08:10 |
| End of Day Share Price | 2025/11/28 00:00 |
| Earnings | 2025/06/30 |
| Annual Earnings | 2025/06/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
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Analyst Sources
The a2 Milk Company Limited is covered by 18 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Thomas Kierath | Barrenjoey Markets Pty Limited |
| Jonathan Snape | Bell Potter |
| Josephine Forde | BofA Global Research |