Fonterra has a new CEO. He is 46-year-old Dutchman, Theo Spierings.
Mr Spierings, a former executive board member of Dutch dairy co-operative, Royal FrieslandCampina, will take over from Fonterra’s departing CEO Andrew Ferrier, on September 26, after the announcement of a record financial year for Fonterra.
Mr Ferrier announced his resignation from Fonterra in March.
Fonterra Chairman, Sir Henry van der Hayden, said Mr Spierings, who currently lives in the Netherlands with his wife and three children, brings with him 25 years of global dairy industry knowledge.
Federated Farmers has applauded the appointment saying it is ‘inspiring’.Dairy Chairperson Willy Leferink says Andrew Ferrier has done a magnificent job, and there is relief amongst Federated Farmers that he will be succeeded by a person with 23 years experience in a large international co-operative.
“He has been there for a reasonable amount of time, and he has come up through the system through FrieslandCampina, which is more selling milk products to customers, so we might move up the retail chain.
"And, as he indicates, he wants to put another level of value within the business.”
Fonterra Shareholder’s Council has also welcomed the appointment.
Council Chair Simon Couper says the appointment of the right person is a vital step for the co-operative and Mr. Spierings’ vast experience at the helm of a co-operative should ensure he comes to grips quickly with the unique model and values of Fonterra.
Simon Couper says Mr Spierings’ appointment will move Fonterra to the next level.
“The appointment of the right person is a vital step for the co-operative.
“We need somebody with the experience with co-op, who understands that ownership and control is central to shareholders who are the owners of the business.”
And Simon Couper acknowledges the contribution that Andrew Ferrier has made to Fonterra.
“Andrew Ferrier has put in at least 7 years into Fonterra. He has reorganised it and we can now see the business units are performing well and, of course, it's the fact that we are having an $8 milk price this year.
“This means the company is in a strong position and it'll be a good time for somebody to take over the helm.”
