Fonterra FY26 Results: $9.69 Milk Price, $3.4bn Profit
Fonterra has unveiled its annual results for the 2026 financial year, posting $27 billion in revenue and close to $20 billion returned to New Zealand farmer owners and unit holders.
Mike Cronin, who is currently group director governance and legal, is stepping into the newly created role of managing director corporate affairs, effective immediately.
Announcing the appointment, Fonterra chief executive Theo Spierings says Cronin's connection with the business, and its risk and reputation drivers, makes him the natural choice for this role.
"Mike has extensive experience in corporate risk and reputation management, and providing trusted strategic counsel to the cooperative," says Spierings.
"He has an in-depth understanding of New Zealand and the cooperative, and the internal and external dynamics of our business. This, combined with his strong stakeholder management skills, provides Mike with the required skills to lead a team responsible for enhancing and protecting Fonterra's brand and reputation, including governance and legal, health and safety, food safety and quality, brand, social responsibility and communications, and stakeholder affairs."
In the other appointment announced, Joanne Fair, currently Fonterra's regional director ingredients, South East Asia, has been appointed to the role of managing director people and culture, effective July 1, 2016.
Spierings says Fair is ideally placed to lead the cooperative's People and Culture team. She has a strong background and expertise in human resources and has held global and regional commercial leadership roles, having worked with Fonterra across New Zealand, Latin America, Europe and South East Asia.
"With over a decade of experience in the dairy industry, Jo is an experienced senior human resources and commercial leader, with a strong understanding of how Fonterra operates," says Spierings.
"She has shown agility in working with diverse cultures and customers, and her human resources and commercial experience positions her well to lead a team responsible for delivering our people strategy, and organisational health and engagement."
Both Cronin and Fair will report directly to Spierings.
