Tuesday, 31 October 2023 15:18

Fonterra CFO leaves, nine months into the job

Written by  Sudesh Kissun
Neil Beaumont Neil Beaumont

Fonterra’s chief financial officer (CFO) Neil Beaumont leaves the co-op on Friday, just nine months after taking on the role.

Beaumont’s surprise departure came in a Fonterra press release to the NZ Stock Exchange. No reason was given for his sudden departure.

Simon Till, who has most recently held the role of Fonterra’s director capital markets, will take up the position of acting chief financial officer “while recruitment for a permanent CFO is underway,” the brief statement says.

“Neil joined the co-operative in February 2023 and his last day will be the 3rd of November.”

Announcing his appointment in November last year, Fonterra said Beaumont was an accomplished group CFO, experienced in operating at the most senior levels of global and in complex business environments.

Before joining Fonterra, he was senior managing director, chief financial and risk officer at Canada Pension Plan Investment Board (CPPIB), with responsibility for leading the operations, finance, and risk functions for the CAD $500b investment fund.

He has held senior roles at BHP Billiton in Chile and Australia and at KPMG. He is a chartered accountant with the Canadian Institute of Chartered Accountants and holds a Bachelor of Commerce from the University of Saskatchewan.

More like this

Winston Peters questions Fonterra divestment plan

Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.

Editorial: A new era for two co-ops

OPINION: Farmer shareholders of two of New Zealand's largest co-operatives have an important decision to make this month and what they decide could change the landscape of the dairy and meat sectors in New Zealand.

Should co-op sell its consumer brands?

OPINION: As CEO of the Dairy Board in the 1980s I was fortunate to work with a team of experienced and capable executives who made most of the brand investments that created the international consumer business Fonterra inherited. Soprole in Chile was the largest, but there were more than 20 countries where consumer marketing companies were established and Anchor and other brands were successfully launched.

Featured

'One more push' to eliminate FE

Beef + Lamb New Zealand (B+LNZ) is calling on farmers from all regions to take part in the final season of the Sheep Poo Study aiming to build a clearer picture of how facial eczema (FE) affects farms across New Zealand.

Winston Peters questions Fonterra divestment plan

Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.

National

Machinery & Products

New McHale terra drive axle option

Well-known for its Fusion baler wrapper combination, Irish manufacturer McHale has launched an interesting option at the recent Irish Ploughing…

Amazone unveils flagship spreader

With the price of fertiliser still significantly higher than 2024, there is an increased onus on ensuring its spread accurately at…

» Latest Print Issues Online

Milking It

Tough times

OPINION: Dairy industry players are also falling by the wayside as the economic downturn bites around the country.

MSA triumph

OPINION: Methane Science Accord, a farmer-led organisation advocating for zero tax on ruminant methane, will be quietly celebrating its first…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter