Fonterra CFO Andrew Murray Resigns
Fonterra Co-operative Group chief financial officer Andrew Murray has resigned to take up a role outside the dairy giant.
In return Fonterra will use Beingmate's sales and distribution network in China to sell its Anmum branded formula.
Fonterra chief executive Theo Spierings said the global partnership with Beingmate holds growth potential for both companies.
"The partnership will create a fully integrated global supply chain from the farmgate direct to China's consumers, using Fonterra's milk pools and manufacturing sites in New Zealand, Australia, and Europe.
"By working with Beingmate we are creating additional demand for ingredients and high-value paediatric and maternal nutrition products."
