Fonterra appoints Richard Allen as new CEO

NEW ZEALAND – Fonterra Co-operative Group has appointed Richard Allen as its next Chief Executive Officer, succeeding Miles Hurrell.

Chair Peter McBride stated that Richard is an exceptional leader who will bring to the CEO role a strong connection with farmer shareholders and customers and a deep knowledge of Fonterra’s global operations and markets. 

“Richard is passionate about our Co-operative,” said Mr McBride. “His most recent role is President Global Ingredients, responsible for Fonterra’s Ingredients sales, optimisation, risk management, trading and global manufacturing.

He joined Fonterra as a graduate in 2008 and since then his career has spanned in the global supply chain. He led the farmer-facing business Farm Source for 5 years, worked in China as Vice President of our Foodservice business, was the founding CEO of MyMilk, and, more recently, served as President of Atlantic, based in Chicago, responsible for relationships with several of our key global accounts.

“I’ve built my career with Fonterra and understand the important role the Co-op plays both for farmers here in New Zealand and our customers around the world. I’m committed to maintaining the momentum in our performance, focused delivery of strategy and financial discipline that has been developed over recent years,” said Allen.

The news comes after the resignation of Chief Executive Officer Miles Hurrell after 25 years. Since his appointment as CEO in 2018, Miles Hurrell has led Fonterra from a loss-making business to a profitable global dairy player.

Hurrell took over the reins from Theo Spierings, who oversaw Fonterra’s expansion into China and consolidated the co-op’s operational structure from four separate divisions into a single umbrella group.

Over his eight years as CEO, Hurrell focused on simplifying Fonterra’s structure through strategic divestments.

The appointment follows Fonterra Co-operative Group Ltd’s completion of the sale of its global consumer and associated businesses, Mainland Group, to Lactalis.

The sale comprises Fonterra’s global Consumer business and Consumer brands (excluding the consumer business in Greater China, where Fonterra will continue to own the Anchor brand), the integrated Foodservice and Ingredients business in Oceania, the integrated Foodservice business in Sri Lanka and the Middle East and Africa Foodservice business.

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