Eroding share of milk worries Fonterra shareholders
Fonterra shareholders are concerned with a further decline in the co-op’s share of milk collected in New Zealand.
Former Nestle executive Lukas Paravicini takes over in September as the chief financial officer. He replaces Jonathan Mason, who retires after four years in the job.
The co-op has also appointed Jacqueline Chow to the newly created position of managing director global brands and nutrition. Chow will drive Fonterra’s overall marketing, innovation and research activities.
Fonterra chief executive Theo Spierings says the appointments reflect well on the cooperative’s continued ability as a global player in the dairy industry to attract high calibre, internationally experienced people to senior management roles.
“Lukas and Jacqueline will join our team which is focused on driving our V3 strategy forward. We look forward to them contributing their expertise at the top table.
“Lukas’ strengths and experience will be a considerable asset to Fonterra. He really understands dairy and has lived and worked in some of our most strategically important markets.
“Jacqueline will bring extensive FMCG and marketing experience to our marketing and innovation agenda in support of our strategy.”
Paravicini joins Fonterra after 22 years with Nestle. He has been general manager for Nestle Professional Europe for the last two years and prior to this he held a number of senior finance positions in different parts of the Nestle business including running its global business services and spending 10 years in Latin America.
Chow has a 20-year career in global blue-chip multinationals and joins Fonterra from Arnott’s, where she was general manager of Australia and New Zealand and led the growth of its $1 billion business. She has held executive marketing and innovation roles in Campbell’s and the Kellogg Company, and started her career as a strategy consultant in consumer products.
With these appointments the Fonterra management team which drives the strategy and day-to-day performance of the business now comprises:
Managing director NZ Milk Products, Gary Romano
Managing director APMEA (acting), Johan Priem
Managing director Greater China & India, Kelvin Wickham
Managing director Latin America, Alex Turnbull
Chief financial officer, Lukas Paravicini
Managing director global brands & nutrition, Jacqueline Chow
Managing director people, culture & services, Chris Caldwell
The roles of group director strategy, Maury Leyland, group director cooperative affairs, Todd Muller, and a new role of group director communications, Kerry Underhill, will provide group-wide support and report to Spierings. Group director mergers & acquisitions, Paul Campbell, will report to Paravicini.
Ian Palliser, who was previously MD group optimisation & supply chain, is taking up a role leading one of Fonterra’s key strategic initiatives. The functions within his previous role have been incorporated into other areas of Fonterra’s management team.
Sarah Kennedy’s next move will be the subject of a separate announcement. Kennedy was previously MD Fonterra Nutrition which has been incorporated primarily into the new global brands & nutrition function.
The new organisation structure will take effect from the start of Fonterra’s financial year on August 1.
