Is CEO Miles Hurrell ready to jump off the Fonterra ship?

CEO Miles Hurrell has turned around Fonterra's fortunes in five years, so what's next? (Image: Getty)

Fri, 22 Mar 2024

In the financial year that Miles Hurrell took over the top job at Fonterra, the business reported a net loss of $605 million. That was 2019.The co-op wasn’t paying a dividend, with the farmgate milk price at $6.35 per kilogram of milk solid. Hurrell made it his mission to reset the business and get it back to basics.Almost exactly five years after Hurrell took over, Fonterra reported a half-year net profit of $674m, up 23%, on Thursday, with earnings before interest and tax increasing 14% to $986m.It increased the inte...

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