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.
Fonterra chief executive Theo Spierings says Jonathan Mason had always indicated Fonterra would be his last full time role.
"Jonathan joined Fonterra in the midst of the global financial crisis in 2009 and, under his leadership, ensured the cooperative's financial position was strengthened through those difficult times," says Spierings.
"Jonathan has also played a leading role in the launch of Trading Among Farmers, which has significantly improved the cooperative's capital structure.
"Jonathan will leave Fonterra in a much stronger position and we are grateful to him for this contribution."
Spierings says Mason has agreed to support the cooperative through to the end of the financial year while Fonterra identified a successor.
