Fonterra has announced its CEO of the last 8 years, Andrew Ferrier, will step down from the role sometime in the mid year.
Mr Ferrier started at the co-op in 2003, and has overseen the rise of the company into its current state as the world’s largest d
airy exporter, and New Zealand’s biggest private earner.
Fonterra Chairman Sir Henry van der Heyden said in a statement the co-op has never been in a better state, and that’s thanks in a large part to Andrew’s leadership.
“Andrew has devoted eight years to building Fonterra into a highly successful co-operative delivering great results for its farmer shareholders and New Zealand.
"In 2003 Andrew inherited nearly 20,000 people that made up Fonterra and has single-mindedly moulded them into a world class team, working to a clear strategy and with a real sense of purpose.
"Fonterra has never been in better shape, and that is a credit to Andrew’s leadership."
Federated Farmers Dairy President, Lachlan MacKenzie, says dairy farmers around the country owe a lot to Mr Ferrier, and he’ll be sad to see him go.
Fonterra has released a statement saying they had known of Mr Ferrier’s intentions for some time, and have already begun the search for a replacement.
You can find that statement, here.
