Fonterra appoints Caldwell, completing management restructure
Dairy giant appoints Chris Caldwell as managing director for people, culture, services.
BUSINESSDESK: Fonterra has appointed Chris Caldwell as managing director for people, culture and services, the last role to be filled in its new management structure.
Earlier this month, the dairy exporter announced it was expanding its top management team as part of a strategy focusing on sales in emerging markets.
Mr Caldwell's role is one of 12 reporting directly to chief executive Theo Spierings. The new structure comes into effect from August 1, the start of the new financial year.
All 12 members of Fonterra's new management team have been appointment from within the co-operative.
Mr Caldwell, who joined the company in 2008, is currently general manager of finance.
Fonterra management has previously operated under large silos headed by a handful of executives, and the company wants to reduce the complexity and potential for duplication under the existing model.
The new-look management structure comes as Fonterra looks to shore up its capital base in a bid to fund its global aspirations with the Trading Among Farmers project – a scheme that would enable farmers to sell the dividend rights of their shares into a fund, which would then be available for investors to buy as units in a secondary market.
The company has already unveiled plans to invest in a new Indonesian plant as part of its growth plans in Asia, and flagged a $100 million spend-up on building two new farms in China as it looks to produce one billion litres of milk in the world’s most populous nation by 2020.
Hannah Lynch
Mon, 21 May 2012
Mon, 21 May 2012
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Fonterra appoints Caldwell, completing management restructure
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