Dairy co-op giant Fonterra has announced the appointment of Richard Allen as its next CEO, succeeding Miles Hurrell.
Chair Peter McBride described Allen as “an exceptional leader” who has a strong connection with farmer shareholders and customers and a deep knowledge of Fonterra’s global operations and markets.
“The board is really pleased to announce Richard as Fonterra’s next CEO,” added McBridge, “who will lead the co-op into the next phase of its strategic implementation.
“Richard is passionate about our co-operative. His most recent role is president of 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 Atlantic president based in Chicago, responsible for relationships with a number of our global key accounts.”
Related: Fonterra pays tribute to CEO Miles Hurrell as he steps down
Allen said he was proud and humbled to be appointed to the role, adding: “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 steps into the role on 1 May, with Hurrel staying with Fonterra in an advisory role until September to assist with the leadership transition.
“Miles has worked well with the board to develop leadership talent and plan succession,” said McBride, “which has allowed us to run an efficient appointment process for Fonterra’s next CEO.”
