Fonterra has appointed Fraser Whineray to its management team as chief operating officer. Whineray will begin work in early 2020 in what is a newly created role for the New Zealand dairy cooperative.
“Fraser has demonstrated he can transform organisations to achieve growth in complex environments through a focus on innovation, customers and his team,” said Miles Hurrell, Fonterra’s chief executive. “He is motivated to contribute to New Zealand’s export success and to drive sustainability, innovation and efficiency in business – three strengths that we believe can create real value.”
The appointment comes after a tough year for Fonterra. The cooperative announced a record annual loss after tax of NZ$605 million ($380m) for the 12 months to July 2019. Following a strategic review, Fonterra’s focus is now on developing ways to create a more successful future.
Whineray will join Fonterra from electricity generation and electricity retailing company Mercury NZ, where he is chief executive. The move marks a return to the dairy sector for Whinneray – he started his career as a graduate of the New Zealand Dairy Board’s technical training programme.