Bakers prefer butter, helping prices soar
Consumers around the world are willing to pay more for products containing dairy and this is driving demand for butter and cream, says Fonterra.
Ferrier begins his three-year term commencing November. He replaces Jon Mayson.
Economic Development Minister Steven Joyce says Ferrier has a wealth of experience in international business and brings strong governance and strategic capability to the NZTE board. He is well placed to take up the role of chair of the board, he adds. Ferrier stepped down from Fonterra earlier this year after serving as CEO for eight years.
Joyce thanked Mayson for his valuable contribution to the operation of NZTE and for steering it through a period of significant change.
