Fonterra has appointed Richard Allen as its next chief executive, succeeding Miles Hurrell.
Allen will take up the role on May 1, with Hurrell remaining in an advisory position until September to support the leadership transition.
Chair Peter McBride says the board is pleased with the appointment as the co-operative enters its next phase of strategy.
“The board is really pleased to announce Richard as Fonterra’s next CEO, who will lead the Co-op into the next phase of its strategic implementation.
“Richard is passionate about our Co-operative,” McBride says. “His most recent role is President Global Ingredients, responsible for Fonterra’s ingredients sales, optimisation, risk management, trading and global manufacturing.
“He joined Fonterra as a graduate in 2008 and since then his career has spanned our global supply chain. He led our farmer facing business Farm Source for five years, has worked in China as vice president of our foodservice business, was the founding CEO of MyMilk, and more recently served as president Atlantic based in Chicago, responsible for relationships with a number of our global key accounts,” he says.
Allen says he is “incredibly humbled” to be appointed and is proud to lead the co-operative.
“I’ve built my career with Fonterra and understand the important role the Co-op plays both for farmers here in New Zealand and our customers around the world.
“I’m committed to maintaining the momentum in our performance, focused delivery of strategy and financial discipline that has been developed over recent years.
“Fonterra has a strong platform to build from and I’m excited by our prospects as we move forward as a New Zealand farmer owned global B2B dairy provider,” Allen says.
McBride says Hurrell has worked closely with the board on succession planning, enabling a smooth and efficient appointment process.
