Two Major NZ Dairy Deals Completed
Two major acquisitions in the New Zealand dairy sector were completed this week.
It will enable the cooperative "to continue to deliver maximum value creation and strong performance", it says.
Chief executive Theo Spierings says the Fonterra management team is the right step in its evolution.
"We're keeping farmers at the heart of our Co-op while focusing on delivering to our global customers and consumers."
Spierings says the most significant leadership changes were the newly created Global Consumer and Foodservice business unit led by Jacqueline Chow, Judith Swales' appointment to chief operating officer velocity and Innovation and Miles Hurrell heading up Farm Source, formerly Cooperative Affairs.
Under the leadership of Jacqueline Chow, Global Consumer and Foodservice will include all consumer and foodservice business units in the cooperative's key markets.
"We have an ambition to have our consumer and foodservice brands at the number 1 and 2 positions in our eight key strategic markets. Lining up our markets and consumer and foodservice teams enhances our focus on delivering world leading consumer brands," says Spierings.
Swales, as COO velocity and innovation, will manage the cooperative's transformation and disruption agenda, and all research, development and technology.
"With Judith heading up Velocity and Innovation we will get an end-to-end view of our efforts to drive efficiency across our business, bringing increased commercial focus to our research, development and technology, and taking a strategic view on developing game changing business models."
"This is a strong, lean senior leadership team of internal talent, accountable for delivering value and achieving our ambition," says Spierings.
Fonterra's management team
The appointments are effective from today. Additional to Spierings, the six-strong Fonterra Management Team comprises:
· Chief financial officer Lukas Paravicini's role and position remains unchanged
· Miles Hurrell, previously group director of co-operative affairs, is now chief operating officer Farm Source
· Jacqueline Chow, previously chief operating officer velocity, is now chief operating officer global consumer and foodservice. She will lead the global consumer and foodservice business unit into 2017 after which she plans to retire from executive life and return to Australia to pursue a portfolio of board directorships.
· Judith Swales, previously managing director oceania, is now chief operating officer velocity and innovation. Fonterra Australia will continue to report through to Judith
· Kelvin Wickham, previously managing director of global ingredients, whose role and position remains unchanged, is now chief operating officer NZMP
· Robert Spurway, previously managing director global operations, is now chief operating officer global operations
Spierings says, "Miles, Jacqueline and Judith are taking on different and expanded roles while Lukas' role is unchanged. Robert and Kelvin have new titles that properly reflect the breadth and importance of their roles."
Regarding Jacqueline Chow's appointment as COO of Global Consumer and Foodservice, Spierings says, "Jacqueline has been instrumental in driving our transformation agenda and has been clear about her intention to retire from executive life at some point in the future. Before she does, our co-op stands to benefit greatly from her wealth of consumer and business experience as she creates our world class consumer and foodservice business unit."
Alex Turnbull will continue to head Fonterra's Latin American business as part of the Global Consumer and Foodservice business unit.
Today's appointments follow leadership announcements made earlier in the month for managing director corporate affairs, Mike Cronin, and managing director people and culture, Joanne Fair. Both senior roles are internal appointments and report directly to Spierings.
Spierings also says president Greater China and managing director Asia MEA, Johan Priem, will retire on July 31. He says Fonterra would acknowledge Johan's invaluable service to the cooperative in July and make announcements on leadership structures in the Greater China and Asia MEA region around that time.
