Revamped Fonterra to be ‘more capital-efficient’
Fonterra chair Peter McBride says the divestment of Mainland Group is their last significant asset sale and signals the end of structural changes.
Shareholders and sharemilkers, active on twitter, welcomed the appointment of Hurrell to the top job; Hurrell was head of Farm Source before his new appointment.
Hurrell is also the first Fonterra head to have his own twitter account.
Shortly after Fonterra’s announcement this morning, he tweeted, “After 18 years in the co-op, humbled and honoured to be appointed by the board as CEO of Fonterra on behalf of our farmers. Thanks for all your messages of support.”
Bruce, Fairleigh Ayrshires & Holsteins tweeted “now we have the right man steering the ship”.
Clevedon farmer Olin Greenan tweeted that it was well deserved appointment.
Waikato farmer Tracy Brown, Tiroroa Farms says Hurrell’s appointment was great news.
“Looking forward to a new era of leadership!” she tweeted.
Taranaki sharemilker and well-known social media personality Matthew Herbert says Hurrell will be “a great CEO”.
“(Monumental decision by the board to stop the search and appoint Miles. Some huge challenges ahead for Fonterra and I think Miles is connected enough to the grassroots to grasp them and tackle them head-on,” says Herbert on his twitter page.
Some farmers also offered advice for the new Fonterra head. Otorohanga farmer Paul Singh tweeted, “Congratulations Miles. My respectful suggestions: Less defensiveness and arrogance and more straight talk and accuracy.”
