Fonterra CEO Andrew Ferrier is leaving the company later this year.
Mr Ferrier said that, with Fonterra in good shape, it provided the right opportunity for the transition. He said that he intended to continue living in New Zealand after he left Fonterra, but wanted the flexibility to spend a little more time with family, including in his homeland Canada.
“I have always thought that a successful CEO should build a culture and capability in an organisation, to ensure that it continues to improve when you move on,” Mr Ferrier said. “Fonterra is a great co-operative and, when I leave, I will have absolute confidence in it becoming even stronger in the future.
“I have had 17 years as a CEO, including eight years at Fonterra, and I am looking forward to more flexibility in my life, spending more time with my family, and choosing from a number of business interests that are available to me.”
The low point for Fonterra under his tenure was the Sanlu contaminated milk powder tragedy.
There have been many high points, including growth in international markets, development of new products and record payouts to shareholders.