Coutts appointed chair-elect of Mainland Group
Fonterra has named Elizabeth (Liz) Coutts the chair of Mainland Group, the proposed divestment entity of the co-operative’s consumer business.
Fonterra has confirmed the appointment of Miles Hurrell as its chief executive officer with immediate effect.
Hurrell had been the cooperative’s Interim CEO since August last year.
Fonterra also announced that Hurrell will be paid a base salary of $1.95 million, with additional short and long-term incentive payments based on the achievement of targets agreed with the board.
Hurrell’s total remuneration package will be reported in the co-op’s annual financial statements in September.
Fonterra chairman, John Monaghan says the board has been impressed with Hurrell’s leadership and commercial skills as it continued to breathe fresh air into the co-op.
“Miles has been performing well under difficult circumstances. 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.
“Miles has demonstrated the wisdom, skills, experience and frankly, 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.
“His work alongside the board as we progress our portfolio review to re-evaluate our investments, major assets and partnerships; and the more recently announced full review of the Co-operative’s strategy, has him uniquely qualified for the role.”
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 months as interim CEO have reinforced my view that, despite the challenges with our current performance, the fundamentals of this business are strong. To realise our potential we need to get the basics right and that means a full review of our strategy and ultimately, a fundamental change in direction.
“I’d like to thank the co-op’s farmer-owners and unit holders for their continued encouragement and support.”
Hurrell first joined Fonterra in the year 2000. His 19 years’ experience in the dairy industry has spanned four continents, including roles in Europe, the United States, Middle East, Africa and Russia. Before taking up the role of interim CEO, Hurrell was the cooperative’s Chief Operating Officer of Farm Source – the unit responsible for working directly with the co-op’s farmer-owners.
The Government is calling on rural New Zealanders to share their views on proposed regulations designed to improve the management of farm plastic waste.
For many urban New Zealanders, stepping into Pāmu’s Pinta dairy farm near Taupo last month was the first time they had had the chance to experience farm life up close.
After tasting 240 New Zealand made cheeses, judges have bestowed medals upon 199 of the entries.
Bay of Plenty’s top share farmers Andre and Natalie Meier are no strangers to the New Zealand Dairy Industry Awards winning circle.
Afimilk, a global dairy farm management solutions provider, has appointed Justin Miller as the new general manager for New Zealand and Australia.
Investing in your people and in your own leadership skills is the path to success for a farming business, says economist Shamubeel Eaqub.
OPINION: Is it the beginning of the end for Greenpeace?
OPINION: The good times felt across the dairy sector weren't lost at last week's Beef + Lamb NZ annual meeting.