New CEO must lead Fonterra into a B2B player

Allen will lead the cooperative into the next phase of its strategic implementation, says Chairman Peter McBride in a press statement. Fonterra sold the consumer division to Lactalis last yearThe cooperative's focus is now on B2B markets.

The new CEO joined the dairy processor after graduating in 2018. He led Farm Source, a company focused on farmers, for five years, worked in China as Vice President of the foodservice division, was the first CEO of MyMilk, and most recently served as President Atlantic in Chicago, where he was responsible for relations with a number of Fonterra’s key global customers. Allen’s most recent position is that of President Global Ingredients, in which he was responsible for, among other things, the sales and global production of Fonterra’s ingredients.

Targeted implementation of the strategy
According to McBride, Allen is an outstanding leader who has a strong bond with the farmer members and customers and brings extensive knowledge of Fonterra's global operations and markets. "Richard has a passion for our cooperative," said McBride. Allen says he is proud to lead the cooperative. "I am determined to maintain the momentum in our performance, with a targeted execution of the strategy and the financial discipline developed over the past few years," said the new executive. "Fonterra has a strong foundation to build upon, and I am excited about our prospects as we move forward as a global B2B dairy supplier owned by New Zealand farmers." 

What Miles Hurrell will be doing starting in September has not yet been announced.