Fonterra CFO Andrew Murray resigns
Andrew Murray has stepped down as chief financial officer of Fonterra after two years in the role, with the dairy company beginning recruitment for his replacement.
What happened
Andrew Murray has resigned as chief financial officer of Fonterra, the dairy cooperative announced on Friday. Murray joined Fonterra in 2023 as commercial director of global markets before moving into the CFO role in 2024. During his tenure, he oversaw the divestment of the Mainland Group and Fonterra's enterprise resource planning transformation. Chief executive Richard Allan said Murray had brought clarity and discipline to the company's changes and strengthened its finance capability. Murray will remain with Fonterra until the end of the calendar year, with recruitment for a new CFO to begin immediately.
Why it matters
Murray's resignation comes two months after Fonterra reported a $3.4 billion operating profit for the year, boosted by $1.2 billion from the sale of its Mainland brands to Lactalis in September. His departure marks the end of the financial leadership that oversaw this major divestment and the company's enterprise transformation.
Follow the whole thread: Fonterra annual results 2026
Key facts
- Andrew Murray served as CFO since 2024
- Joined Fonterra in 2023 as commercial director
- Oversaw Mainland Group divestment and ERP transformation
- Departure effective end of calendar year
What happens next
Recruitment for a new chief financial officer will begin immediately, with Murray departing at the end of the calendar year.
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What outlets are saying
BusinessDesk
Andrew Murray to depart Fonterra
Fonterra Co-operative Group’s chief financial officer Andrew Murray has resigned. His departure after two years in the job was announced on Friday, with Murray set to take up a role outside Fonterra.
RNZ
Fonterra in hunt for new chief financial officer
The chief financial officer at dairy giant Fonterra has resigned to take up a new role outside the company.