Bakers prefer butter, helping prices soar
Consumers around the world are willing to pay more for products containing dairy and this is driving demand for butter and cream, says Fonterra.
Gradon, who was appointed chief executive three years ago, is leaving for personal and family reasons.
Miraka chair Bruce Scott attrributed much of Miraka's recent growth and success during the past three years to Gradon's leadership and efforts resetting the business for future success.
"Karl Gradon has successfully navigated Miraka through a significant period of change, leading the reorganisation of the business to set Miraka up for long-term, intergenerational success, as was envisioned by our founding leaders and shareholders.
"There are many successes and wins we attribute to Karl's leadership. This includes building a strong senior leadership team, evolving from single products to optimising customer focus and our portfolio of value-added products."
Gradon says that leading Miraka has been a rewarding experience both professionally and personally.
"I am deeply proud of what we have accomplished together as a whānau and business. I am confident in the company's continued success.
"Our shareholders bestowed a set of values that I personally admire, and I look forward to seeing this values-based approach continue to flourish through the generations as our founders intended."
The Miraka board has begun a search for Gradon's replacement. Miraka chief operating officer, Richard Harding, is now acting as CEO.
