Fonterra Promotes Ingredients Head Richard Allen to Be Next CEO
Fonterra Cooperative Group’s Anchor brand milk on the production line at a processing plant in Takaanini, Auckland, New Zealand.
Photographer: Brendon O'Hagan/BloombergFonterra Cooperative Group promoted Richard Allen to chief executive officer as it completes the sale of its consumer business and refocuses on producing high-value ingredients from New Zealand milk.
Allen, who has been at the group since 2008, takes the helm of the world’s biggest dairy exporter on May 1, Auckland-based Fonterra said Monday. He replaces Miles Hurrell, who last month announced his intention to step down after eight years in the role.