Fonterra CEO to step down
Fonterra's Chairman, Sir Henry van der Heyden, has announced that the cooperative's CEO, Andrew Ferrier, intends to step down from his role in the second half of this year.
Sir Henry said Ferrier had indicated some time ago that he wanted to move on by the end of 2011. But at the same time he had made it very clear that his first priority was to do what was right for the business.
“As a result, Fonterra and the Board are well prepared for a smooth transition to a new CEO,” Sir Henry said.
Sir Henry said that the Board would be considering internal and external candidates. The assessment and development of internal candidates had commenced nearly two years ago and an international search was put in place at the end of last year.
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