Fonterra, the world’s foremost dairy exporter, has concluded its internal hunt for a new Chief Executive Officer (CEO) by naming the veteran employee, Richard Allen, as successor.
Richard Allen, who started his career path at Fonterra as a graduate in 2008, has recently held the position of president of global ingredients. His promotion comes in the aftermath of Miles Hurrell’s resignation in December of the previous year.
Peter McBride, the Chairman of Fonterra, expressed the board’s satisfaction with the appointment. He emphasised that Allen is primed to steer Fonterra into the next stage of its strategic execution.
During his tenure at Fonterra, Allen has accumulated a diverse portfolio of experiences. He managed Farm Source, the company’s farmer-oriented business, for five years and operated in China as the vice president of the food service sector. Further, Allen was the initial CEO of MyMilk, and more recently, he functioned as the president of Atlantic, located in Chicago. In this role, Allen was responsible for managing relationships with several of Fonterra’s crucial global clients.
On May 1, Allen will assume his new role as CEO. Hurrell will remain with Fonterra as an advisor until September, ensuring a smooth transition.
Allen expressed his anticipation for his new appointment, acknowledging the significant impact Fonterra has not only on farmers in New Zealand but also on its international customer base. He pledged his commitment to maintaining the positive trajectory in company performance, the focused execution of strategy, and the financial discipline fostered over recent years.
When did Richard Allen start his career at Fonterra?
Richard Allen joined Fonterra in 2008 as a graduate.
What are some of the roles Richard Allen has held at Fonterra?
Allen has held various positions during his tenure at Fonterra, including leading the farmer-facing business Farm Source, serving as vice president of the foodservice business in China, being the founding CEO of MyMilk, and most recently, acting as president of Atlantic in Chicago.
When will Richard Allen officially assume his new role as CEO of Fonterra?
Richard Allen will commence his role as the CEO of Fonterra on May 1.
