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Fonterra announces that CEO Theo Spierings will leave his role

first_imgFonterra announces that CEO Theo Spierings will leave his rolePosted By: News Deskon: March 21, 2018In: Appointments, Beverage, Business, Dairy, Food, IndustriesPrintEmailNew Zealand-based dairy co-operative Fonterra has announced that its CEO Theo Spierings will leave his position at the end of the year.The company claims the leadership change is part of a planned succession scheme, as discussions began between Spierings and the Fonterra board last year.According to the statement, the company started identifying potential successors in November 2017, and is now in the process of shortlisting candidates.Fonterra chairman John Wilson stated that the Fonterra board had planned to make the announcement in April, but had brought forward the statement to avoid speculation.Spierings served as Fonterra’s CEO for seven years, and he will operate in an advisory role at the company after a new CEO has been appointed.Spierings said: “It is now time for a new CEO who can lead the co-operative through this next phase.“The time is right for the Co-operative and that is important to me and to the Board.“It is also the right time for me personally. I look forward to new challenges, but right now my focus is on Fonterra. That will be the case until I finish with the co-operative.”Fonterra chairman Wilson added: “It is not yet clear exactly when any appointment for Theo’s replacement will be made, but it is absolutely clear that Theo will continue in the meantime to drive the Co-operative’s strategy and business, with special emphasis on China.“The Board and Theo are committed to a high-quality transition to a new CEO and when we have more information in regards to timing we will let our farmers and the wider market know.“Until then it is business as usual with the focus on driving returns to our farmers and unitholders.“We envisage that even after the announcement of our new CEO, Theo will be involved in an advisory role so that we make best use of his knowledge and expertise during the transition,” says Mr Wilson.Share with your network: Tags: AppointmentsDairyFonterramilkNew Zealandlast_img read more