Fonterra’s CEO, Miles Hurrell, who has spent 25 years with the corporation, will step down from his role in December.
Hurrell took over as the co-op’s CEO in 2018, initially on an interim basis, during a period of the organisation’s turnaround in financial performance and to regain farmers’ trust.
His tenure focused on a strategy that prioritised New Zealand-sourced milk over previous international expansions.
“Under Miles’ leadership, the team has done that and more. From day one, Miles was able to unite the team under a single purpose and drive performance right across the business, setting the co-op up for the future,” said Peter McBride, Fonterra’s chairman.
McBride said Hurrell had provided a six-month notice period, which enables an organised leadership transition.
“Board and management regularly discuss succession as part of good governance practices. We are confident we can run a robust selection process and appoint a new CEO in the coming months,” he added.
