Interim Fonterra Chief Executive Miles Hurrell has been appointed to the position permanently. Mr Hurrell has been the co-operative’s interim CEO since August last year, after the departure of Theo Spierings. Fonterra increases 2018/2019 forecast payout, revises expected earnings down Re-elected Fonterra director keen to restore trust Fonterra Chairman, John Monaghan said the co-operative’s board had been impressed by Mr Hurrell’s leadership and commercial skills as they continued to breathe fresh air into the company. “Miles has been performing well under difficult circumstances,” he said. “Our performance is not something that will be fixed overnight. It will require the courage to make difficult decisions, be up-front with farmer-owners, unit holders and other stakeholders, and instil a culture of accountability and performance right across the organisation,” said Mr Monaghan. He said Mr Hurrell had demonstrated the wisdom, skills, experience and the backbone needed to lead. “His permanent appointment will bring much needed stability to the co-op and our people during a critical period of change.” Meanwhile Miles Hurrell said he was grateful for the Board’s support and, with his senior leadership team, was looking forward to the challenge of re-setting the business so that it delivers on its commitments. “My six… Read full this story
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