Green Light for Fonterra's $3.2b Capital Return Scheme
Fonterra farmer shareholders have approved the mechanism for a $2/share capital return expected from the sale of its global consumer and associated businesses.
Chief executive Theo Spierings says van der Nagel has considerable experience in internationally integrated dairy companies in emerging markets, working with multi-cultural teams, and managing large-scale international joint ventures.
“Alan has held senior executive roles with Parmalat in China, and more recently with Almarai Company in Saudi Arabia, the world’s largest fully integrated branded dairy operation which has a farming operation with 145,000 cows,” says Spierings.
Van der Nagel started his dairy career in New Zealand, before taking up his first senior operational role within the Parmalat Group in Australia in 1989. He remained with Parmalat for 14 years, with several years spent in China where he was the country manager/managing director from 2001 – 2003.
In 2004, van der Nagel moved to Saudi Arabia to work for Almarai Company, where he has been group general manager for operations since 2008.
According to Spierings, van der Nagel’s role will be vital in providing a high quality, safe and traceable supply of milk as part of Fonterra’s integrated supply chain in key markets. A key strategic focus in the short to medium-term is China.
Spierings also thanked Henk Bles whom Van der Nagel replaces. Bles has served as interim managing director since April and will remain in an advisory role for up to six months, to ensure a smooth transition.
