Miles Hurrell is stepping down after eight years as CEO – a successor is to be appointed as the company enters a new phase of strategic development, Fonterra states in a press release.

Fonterra Chief Executive Officer Miles Hurrell has resigned after a 25-year career with the New Zealand dairy co-operative. This is stated in a press release from Fonterra.

Hurrell has served as CEO since 2018, and Chair Peter McBride reflects positively on his tenure:

“When he was appointed CEO in 2018, Miles was tasked with leading a reset of the business to turn around Fonterra’s financial performance and rebuild farmers’ trust. Under Miles’ leadership the team has done that and more,” says McBride.

He adds: “He has overseen a significant strategic reset, focused on getting the Co-op back to its core strengths. In doing so he has helped lift Fonterra’s financial discipline and built the strong foundations the Co-op has today.”

A leadership transition at a strategic turning point
Hurrell himself points to the timing as key to his decision:

“While it’s not an easy decision to step away, the time is right for both the Co-op and me personally. Fonterra’s entering the next phase in its strategic implementation, which marks a natural turning point for a new leader to step in while I consider what’s next for me,” he says.

Hurrell will remain in the role for six months to ensure an organised transition. McBride says the board is confident it can run a robust selection process and appoint a new CEO in the coming months.

By Maja Løvstrup
Photo: Fonterra