Tuesday, 12 March 2019 09:53

Warm reception for new Fonterra CEO

Written by 
Miles Hurrell. Miles Hurrell.

Miles Hurrell's confirmation as Fonterra’s chief executive has been warmly received on social media.

Read: Turning Fonterra around will take time — Hurrell.

Fonterra confirmed the appointment of Miles Hurrell as its chief executive officer with immediate effect on Tuesday last week.

He will be paid a base salary of $1.95 million, with additional short and long-term incentive payments based on the achievement of targets agreed with the board.

 

 

  

Hawke’s Bay farmer and Ballance director Sarah von Dadelszen tweeted that it was “awesome news”.

NZ Agricultural Trade Envoy Mike Petersen describes the appointment as inspiring.

Former Fonterra communications head Kerry Underhill also congratulated Hurrell.

Hurrell will get a base salary of $1.95 million, lower than that earned by his predecessor Theo Spierings, who recieved $8m in pay and bonuses during his last year at the co-op.

One Facebook user Lance Phillips described the salary as “a bargain… less than half of Theo’s salary”.

 

More like this

Light reading

In a follow-up to this old mutt’s piece two issues ago about Fonterra directors getting to grips with the co-op’s financial state and loudly sharing their dismay in the Koru club, another of the Hound’s spies has passed on more news in the ‘Fonterra director watch’ category.

 
 

» Latest Print Issues Online

Milking It

Toxic loan?

More questions are being asked about the Government’s contentious $10 million loan to Westland.

Moo love on the net

Cows and bulls searching for ‘moo love’ now have a mobile app to help their breeders.

 
 

» Connect with Dairy News