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Fonterra and Former CFO Neil Beaumont Part Ways Amicably

New Zealand 14.11.2023
Source: The DairyNews
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In a recent development, Fonterra and its former Chief Financial Officer (CFO), Neil Beaumont, reached a mutual agreement to end his employment, a decision that raised questions among shareholders. Beaumont's departure, occurring after just nine months with the cooperative, was confirmed by Fonterra CEO Miles Hurrell at the recent annual meeting.
Fonterra and Former CFO Neil Beaumont Part Ways Amicably
Neil Beaumont

Hurrell assured shareholders that Beaumont's surprising exit was not linked to Fonterra's financial performance. While the specific terms of Beaumont's departure remain confidential, Hurrell emphasized that the decision was mutually agreed upon by both parties. Despite the brevity of his tenure, Beaumont played a significant role in advancing the cooperative's goals for 2030, contributing to initiatives such as the Resource Allocation Framework, additional efficiency metrics, and cost reduction targets.

Hurrell expressed determination to maintain the momentum created by Beaumont during his time with Fonterra, signaling continuity in the cooperative's strategic initiatives and performance framework. The cooperative remains focused on its long-term goals and objectives, with Hurrell's assurance that Beaumont's departure will not impact Fonterra's trajectory.

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