Fonterra CEO Miles Hurrell announces resignation

Fonterra Co-operative Group has announced that Chief Executive Officer Miles Hurrell has resigned after a 25-year career with the Co-op, including eight years as CEO.

Chair Peter McBride thanked Hurrell for his courageous leadership in the role as CEO since 2018.

“He has overseen a significant strategic reset, focused on getting the Co-op back to its core strengths. In doing so he has helped lift Fonterra’s financial discipline and built the strong foundations the Co-op has today.

“I know I echo the sentiment of farmers when saying that Miles will leave with sincere thanks for his 25 years of loyalty and best wishes for the future.”

Hurrell said it has been an incredible privilege to have had a long career with Fonterra.

“When I took the role of CEO, I understood our financial results are not just numbers but the livelihood of thousands of New Zealand farming families. I have always felt a great sense of responsibility to do what’s right for farmers and I believe the Co-op is now in a really good place.

“While it’s not an easy decision to step away, the time is right for both the Co-op and me personally. Fonterra’s entering the next phase in its strategic implementation, which marks a natural turning point for a new leader to step in while I consider what’s next for me.

“I know that the business will be in good hands. There’s an exceptional team of people who will carry the Co-op forward and continue to drive value for farmers,” said Hurrell.

The leadership transition will be organised over the next six months, during Hurrell’s notice period.