Fonterra consumer business sale price jumps to $4.22b
The sale price of Fonterra’s global consumer and associated businesses to the world’s largest dairy company Lactalis has risen to $4.22 billion.
Cronin will head the co-op’s corporate affairs and Farm Source teams. He takes over Farm Source management from Miles Hurrell who was appointed chief executive in August.
Hurrell says the co-op is fortunate to have broad skills and experience on its management team.
“These two teams already share many of the same objectives and work together very closely on a day to day basis, in areas such as sustainability, communications, on-farm practices and more generally, a joint remit in connecting farmers to their cooperative.”
Cronin has worked in Fonterra for 17 years and is already a member of the executive leadership team, so he is well-placed and very much looking forward to leading the newly formed business unit, says Hurrell.
The change takes effect immediately
