Soprole in Chile was the largest, but there were more than 20 countries where consumer marketing companies were established and Anchor and other brands were successfully launched. New outlets had to be found quickly, and branded consumer products were a much more reliable ongoing sales opportunity than commodity tenders in places like Algeria and Venezuela. The only justification for Fonterra to continue to own and invest in consumer brands is if it can achieve an attractive return on the capital invested. It could only sensibly continue to own a branded consumer business if it expected to earn a sound return on the capital invested – and that isn’t the case. Murray Gough was the chief executive of the New Zealand Dairy Board from 1985 to 1992