Fonterrra has ended its search for a new CEO internally, following the appointment of the long-serving Richard Allen to the role.
Allen joined the world’s largest dairy exporter in 2008 as a graduate and most recently served as president of global ingredients. He takes the role following Miles Hurrell’s resignation in December.
“The board is really pleased to announce Richard as Fonterra’s next CEO, who will lead the co-op into the next phase of its strategic implementation,” said chairman Peter McBride.
“He led our farmer-facing business Farm Source for five years, has worked in China as VP of our foodservice business, was the founding CEO of MyMilk, and more recently served as president of Atlantic, based in Chicago, responsible for relationships with a number of our global key accounts.”
Allen will begin the role on May 1, and Hurrell will stay with the company as an advisor until September.
“I’ve built my career with Fonterra and understand the important role the co-op plays both for farmers here in New Zealand and our customers around the world,” Allen said. “I’m committed to maintaining the momentum in our performance, focused delivery of strategy, and financial discipline that has been developed over recent years.”
