Fonterra CEO Miles Hurrell to step down after eight years in role

Fonterra Co-operative Group has announced that Chief Executive Officer Miles Hurrell will step down, bringing an end to his eight-year tenure leading the world’s largest dairy exporter and a 25-year career with the New Zealand co-operative.

The company said Hurrell submitted his resignation as the business prepares for the next phase of its strategy. According to the company statement issued on Monday, he will remain in the role during a six-month transition period while the board searches for a successor.

Chair Peter McBride said Hurrell’s leadership helped stabilise the company’s finances and restore confidence among its farmer shareholders.

“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,” McBride said in the statement.

“Under Miles’ leadership the team has done that and more,” he added, noting that the company had strengthened financial discipline and refocused on its core operations.

Leadership during a strategic reset

Hurrell took charge of Fonterra in 2018 at a time when the co-operative was grappling with financial losses, governance scrutiny and declining farmer confidence.

During his tenure, the company undertook a strategic reset aimed at streamlining operations and refocusing on its core dairy business, while divesting underperforming international assets.

The restructuring effort helped improve operational efficiency and rebuild the co-operative’s financial performance, according to company leadership.

McBride said Hurrell’s approach had unified the organisation around a common purpose and positioned the business for future growth.

End of a long career at Fonterra

Hurrell joined the dairy co-operative more than two decades ago and rose through a range of leadership roles before becoming chief executive.

Reflecting on his tenure, Hurrell said leading Fonterra had been a significant responsibility given the company’s role in supporting New Zealand’s dairy farmers.

“When I took the role of CEO, I understood our financial results are not just numbers but the livelihood of thousands of New Zealand farming families,” Hurrell said in the company statement.

He added that the co-operative is now in a strong position and entering a new phase of strategic execution, making it a natural point for leadership transition.

“While it’s not an easy decision to step away, the time is right for both the co-operative and me personally,” Hurrell said.

Succession process underway

Fonterra’s board said it has already begun a formal search for the next chief executive, with both internal and external candidates likely to be considered.

McBride said the six-month notice period would allow the company to manage a structured leadership transition.

“Board and management regularly discuss succession as part of good governance practices,” he said, adding that the co-operative expects to appoint a new CEO in the coming months.

For Fonterra, which remains a cornerstone of New Zealand’s agricultural economy, the leadership change comes at a time when the dairy sector faces shifting global demand, sustainability pressures and evolving trade dynamics.

The incoming chief executive will be tasked with building on the strategic reset completed under Hurrell while guiding the co-operative through its next phase of growth and industry change.