Fonterra FY26 Results: $9.69 Milk Price, $3.4bn Profit
Fonterra has unveiled its annual results for the 2026 financial year, posting $27 billion in revenue and close to $20 billion returned to New Zealand farmer owners and unit holders.
Kelvin Wickham, who is currently president, Greater China, will take up the newly created position of managing director global ingredients.
Johan Priem, who is currently a member of the Office of the CEO, will become president, Greater China, when Wickham assumes his new role on August 1.
Chief executive Theo Spierings says the appointments would further strengthen Fonterra's front bench.
"This year one of our top business priorities is to optimise our global ingredients and operations footprint so we can better manage price volatility and increase value, while ensuring a total focus on food safety and quality, and our customers' needs.
"Last week, Robert Spurway was appointed as the new MD global operations. Today's announcement confirms that Kelvin will lead the equally important Global Ingredients business, which includes the sale of all ingredients globally, delivering solutions to our global accounts, tactical optimisation of demand and supply (S&OP), and managing the NZMP brand.
"Driving a focused international ingredients business is part of Kelvin's DNA, having previously held senior global sales, marketing and optimisation positions both in Fonterra and earlier in his career at the NZ Dairy Board."
Wickham has more than 25 years' experience in the dairy industry, furthering Fonterra's overseas markets, customer relationships and partnerships. Prior to leading the China business, he played a key part in developing sustainable cooperative performance. Earlier, he was Fonterra's managing director of global trade, overseeing the launch of the GlobalDairyTrade auction platform. From 2005 to 2007, he was the director of sales and operations planning. Wickham held a number of senior global sales positions during his time with the NZ Dairy Board.
"Our China business is very important to us and a seamless leadership transition is a priority," says Spierings.
"Johan is ideally placed to assume his new role as President Greater China. He has held two senior Fonterra leadership positions in Asia. More recently, he has contributed to developing our approach to food safety and quality, and corporate social responsibility and sustainability."
Before joining Fonterra, Johan was on the board of management at Royal Friesland Foods (which later became Royal FrieslandCampina). At various times, he was responsible for the branded consumer businesses in Europe, Asia, the Middle East and West Africa, as well as the Corporate Marketing function.
In March this year Fonterra's current director global sales Tim Deane was appointed to become the managing director of Fonterra Brands NZ, a position he takes up on August 1.
