Fonterra's CFO has left the company departing nine months into the role.

Neil Beaumont's unexpected departure from Fonterra was communicated through a press release to the NZ Stock Exchange, and the announcement did not provide any specific reasons for his sudden exit.

Simon Till, previously in the role of Fonterra's director capital markets, will step into the position of acting chief financial officer during the interim period while the recruitment process for a permanent CFO is underway. Neil Beaumont, who joined the cooperative in February 2023, will conclude his tenure on November 3rd.

When Fonterra initially announced Beaumont's appointment in November of the previous year, he was lauded as an accomplished group CFO with extensive experience operating at the highest levels globally and in complex business environments. Prior to joining Fonterra, Beaumont served as the senior managing director, chief financial and risk officer at Canada Pension Plan Investment Board (CPPIB), overseeing operations, finance, and risk functions for the CAD $500 billion investment fund. His career includes senior roles at BHP Billiton in Chile and Australia, as well as at KPMG. Beaumont is a chartered accountant with the Canadian Institute of Chartered Accountants and holds a Bachelor of Commerce from the University of Saskatchewan.