Miles Hurrell: Leadership in the Dairy Industry

Miles Hurrell has emerged as a pivotal figure in the global dairy sector, showcasing his leadership at Fonterra, the world's leading dairy cooperative. His rapid rise within the company underscores his deep understanding and expertise in the dairy market.

Position

CEO of Fonterra

Biography

Under Miles Hurrell's guidance, Fonterra has strategically navigated global challenges, focusing on sustainable value creation and resilience in the dairy market. He maintains a focus on core business areas such as Ingredients and Foodservice and emphasizes the importance of being prepared for potential market shifts.

Current Place of Work

Fonterra

Important Events in Miles Hurrell's Career

• March 8, 2022: Announced strategic modifications to Fonterra's operations in Australia, enhancing capital returns while maintaining a strong market presence.
• Repositioning in Malaysia: Initiated divestment plans for specific global consumer segments to bolster financial stability and explore expansion opportunities.
• Advocacy for Sustainability: Engaged with community groups like Don't Burn Waipā, incorporating feedback into Fonterra's sustainability strategies.
• Addressing Industry Challenges: Advocated strategies to combat challenges such as declining milk supply, ensuring resilience and competitiveness.
• Divestment Decisions: Supported strategic divestments in regions like Oceania and Sri Lanka, aligning with Fonterra's broader strategic goals.
• Trade Concerns: Voiced concerns about international trade policies, particularly U.S. tariffs, and their effects on New Zealand's dairy exports.
• Legislative Engagement: Advocated for an extension on the GMO bill submission period, demonstrating involvement in legislative matters impacting the dairy industry.

Despite global market volatility, Hurrell is committed to delivering strong shareholder returns, as evidenced by a 22-cent interim dividend for the financial year 2025. He has also expressed confidence in achieving a record farmgate milk price close to NZ$10 per kilogram of milk solids this season.

Miles Hurrell’s remuneration is governed by a Short-Term Incentive (STI) plan and the new Alignment Rights Long-Term Incentive (LTI) plan, with his STI achievement for the latest financial year amounting to $2.5 million. A significant payday is anticipated for Hurrell starting in 2026, driven by the likely full vesting of FY2024 LTI grants.

Chief Executive Miles Hurrell had previously stated that the cooperative plans to invest up to $1 billion over the next three to four years. He maintains a positive outlook for Fonterra's investment in China, supported by a strong vote from farmers for the cooperative's recent strategic brand sale.

Modified: 2025/12/14