Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
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.
