Fonterra has announced that its CEO Miles Hurrell has resigned from the co-op after eight years at the helm.

Hurrell will work a six-month notice period to allow for a smooth leadership transition.

“The time is right for both the co-op and me personally,” Hurrell said. “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.”

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In 2025, Fonterra announced it was selling its consumer business to Lactalis for NZ$4.22bn (€2.14bn).

The co-op said on 6 March that all regulatory approvals for the sale had been received and both sides would proceed with completing the deal.

Strategic shift of focus

The sale of the consumer brands was part of the co-op’s strategic shift of focus towards its high-performing ingredients and foodservice divisions.

Co-op chair Peter McBride said: “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. From day one, Miles was able to unite the team under a single purpose and drive performance right across the business, setting the co-op up for the future.”