Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
Fonterra chief executive Theo Spierings says: "I want to thank Maury for her significant contribution and commitment to Fonterra over the past 11 years, she has really made a difference to our co-op.
"During this time Maury has been involved in some defining events for our co-op. Highlights include Maury's work on the launch of the Fonterra Shareholders' Fund, working closely with me on the development of our V3 strategy and developing a comprehensive people strategy to deliver to our ambition.
"Maury also stepped up to work closely on the WPC80 precautionary recall as spokesperson and lead of our response. More recently, Maury led our response to the 1080 contamination threat.
"I will miss Maury's support which has been invaluable to me, and on behalf of Fonterra, I wish Maury all the very best for the future.
"The process to appoint Maury's successor is underway," says Spierings.
Leyland's resignation is effective March 31.
