How Marc Rivers helped paddle Fonterra back into the black

How Marc Rivers helped paddle Fonterra back into the black
Marc Rivers joined the co-op shortly before it announced its first ever loss. (Image: Fonterra)
Rebecca Howard
Fonterra’s chief financial officer Marc Rivers credits the dairy giant’s turnaround with having a clear purpose. Rivers, who was born in Switzerland but grew up in the US, joined Fonterra in March 2018, the year the dairy giant announced its first loss.That actually gave him an advantage. “Change is hard but the good thing about hitting the wall as hard as we did at the beginning is there is nowhere to hide,” he said.“Everyone could see that we had to change, and we had to be real, so that’s probabl...

More Primary Sector

Global dairy prices fall
Primary Sector

Global dairy prices fall

Global dairy prices fell slightly overnight, although the losses "were softer than those recorded at the previous auction". Tuesday night’s Global Dairy Trade auction saw the Price Index fall 0.8% despite 5.7% less product being sold and weaker bidding ratios. Only cheddar manage...

Northland goat farmers secure lifeline in bank standoff
Primary Sector

Northland goat farmers secure lifeline in bank standoff

There were 51 farm debt mediations completed in the past 12 months.