Fonterra has appointed Fraser Whineray to its management team in the newly created role of chief operating officer, starting in early 2020.
Whineray is currently the chief executive of power company Mercury NZ and has held several senior leadership roles since joining the company in 2008.
Fonterra CEO Miles Hurrell said Whineray is a “results-orientated” New Zealand business leader.
“Fraser has demonstrated he can transform organisations to achieve growth in complex environments through a focus on innovation, customers and his team,” he said.
“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.
“Fraser is also no stranger to the dairy industry, having started his career as a graduate of the New Zealand Dairy Board’s technical training programme and spending time at some of our manufacturing sites and in our export markets. He is going to be a great addition to our management team.”
Whineray is the chair of the Prime Minister’s Business Advisory Council and holds an MBA from the University of Cambridge and a postgraduate diploma in dairy science and technology from Massey University.
He has held roles at Credit Suisse, Puhoi Valley Cheese and Carter Holt Harvey.
Whineray said: “I am pleased to be able to continue in a role which contributes to New Zealand, and has strong, genuine relationships with many regional communities, Maori land trusts and local iwi across the country.”
The news comes less than two weeks after Fonterra announced an annual loss of NZD 605 million in its last financial year as a result of a series of write-downs across its business.
The dairy cooperative is shifting to new operating model that will see it move from two central businesses – ingredients, and consumer and foodservice – to three customer facing-sales and marketing business units: Asia Pacific (APAC); Greater China (GC); and Africa, Middle East, Europe, North Asia, Americas (AMENA).
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