Fonterra appoints Robert Spurway to new managing director of global operations role

Robert Spurway

Fonterra Cooperative Group has tapped Robert Spurway to head up its global operations division in a newly created role as New Zealand's dominant dairy exporter chases global ingredient sales to offset volatility in dairy prices.

Spurway is currently with the company as acting director of New Zealand operations in NZ milk products and has previously worked across the Tasman for ingredient and food manufacturer Goodman Fielder before returning to New Zealand to become Fonterra's South Island regional operations manager.

"In his new role, Robert will lead the integration of our global milk production capacity," chief executive Theo Spierings said in a statement.,"One of our top business priorities is to optimise our global ingredients sales and operations footprint, so we can better manage price volatility and increase value, while ensuring a total focus on food safety and quality, and our customers' needs."

"While our operations will remain predominantly New Zealand-based and our primary commitment is to our New Zealand farmer shareholders, it is important to have more options about what products we make and where we make them, to complement our New Zealand milk," Spierings said.

​Last month Fonterra forecast a farmgate milk payout for the coming season of $7 per kilogram of milk solids, down from a revised $8.40 kg/MS for the current season as dairy product prices have dropped 23 percent since Fonterra's board forecast a record milk payout in February. The company announced last month that it was overhauling its Latin American 50/50 joint venture with Nestle, with the New Zealand dairy exporter getting the liquids business and the Swiss group buying the milk processing plants.

Units in the Fonterra Shareholders' Fund, which gives investors exposure to the group's dividends, rose 0.7 percent to $5.99, and have gained 2.6 percent this year.

(BusinessDesk)

This article is tagged with the following keywords. Find out more about My Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7831 -0.0010 -0.13%
AUD 0.9224 0.0005 0.05%
EUR 0.6286 -0.0005 -0.08%
GBP 0.5013 0.0005 0.10%
HKD 6.0858 0.0040 0.07%
JPY 92.9740 0.0740 0.08%

Commods

Commodity Price Change Time
Gold Index 1167.0 -29.600 2014-11-28T00:
Oil Brent 74.4 -5.030 2014-11-28T00:
Oil Nymex 66.2 -7.540 2014-11-28T00:
Silver Index 15.5 -1.060 2014-11-28T00:

Indices

Symbol Open High Last %
NZX 50 5455.4 5474.7 5455.4 -0.57%
NASDAQ 4797.1 4810.9 4787.3 0.09%
DAX 9990.7 9990.7 9974.9 0.06%
DJI 17830.5 17893.4 17827.8 0.00%
FTSE 6723.4 6734.7 6723.4 -0.01%
HKSE 23982.3 24117.2 24004.3 -0.07%
NI225 17340.2 17471.9 17248.5 1.23%