The chairman of Arla Foods, Åke Hantoft, 65, has announced his intention to
retire in the near future and has put his dairy farm in Ösarp, Sweden on the
market.

As a consequence of his retirement plans, Åke Hantoft has informed the board of
directors that he, in accordance with the company’s corporate governance guidelines,
will retire as chairman of the board and step down from the board of directors at the
board of representatives meeting in May 2019.

“My wife and I have decided that now is the right time to announce our intention to
retire. We have both turned 65 and have dedicated many years to our farms and to
Arla Foods. Now we want to dedicate more time to our family and each other, and, as
our three children all have established careers outside of dairy farming, we have made
the decision as a family to put our farm on the market,” he said.