GrainCorp taps Fonterra for next CEO

GrainCorp has appointed Fonterra’s global chief operating officer as managing director and chief executive to lead the company into its post-demerger future.

Robert Spurway, who has held his current position with New Zealand’s largest company for the past six years, will join the grain marketer and processor following the planned demerger of its malt business in early 2020.

“He has a deep understanding of the Australian and New Zealand agricultural industries, which will serve us well as we continue to evolve GrainCorp’s strategy and customer offering,” chairman Graham Bradley said.

Current GrainCorp MD and CEO Mark Palmquist will take on the same responsibilities at the demerged malt business, providing the split is approved by shareholders at a meeting expected to be held in March.

If shareholders vote in favour and it gets court approval, the demerger is expected to complete in late March or early April.

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