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.
"It has been one of the greatest privileges of my life to serve Tatua's supplier shareholders and to work alongside exceptional directors, management, staff, customers, and industry partners over the past 30 years," says Allen.
He steps down at Tatua's annual meeting in December, having served as chair for 23 years and a board member for 30 years.
Allen said one of the most important lessons from his career was that long-term success ultimately comes from people.
"When people understand the purpose, feel trusted and are encouraged to contribute, exceptional performance becomes the natural outcome.
"Whatever Tatua has achieved has always been the result of talented people working together with a shared purpose."
Based in Tatuanui, near Morrinsville, Tatua is one of only three dairy co-ops in the country - Fonterra and NZ Dairy Goat Co-op being the other two. During the 2001 mega-merger that formed Fonterra, Tatua shareholders voted to remain independent.
Allen joined the Tatua board in 1996, became deputy chair in 1997, and was appointed chair in 2003 following the retirement of Sir Alan Frampton.
During his tenure, he helped guide the co-operative through one of the most significant periods in New Zealand dairy industry history, including the lead-up to dairy sector deregulation.
Reflecting on his retirement, Allen says he leaves Tatua with a deep sense of gratitude for the people who have contributed to the co-operative's success.
Allen will be succeeded by director Mark Dewdney.
