Fonterra CFO Andrew Murray resigns for role outside company

Andrew Murray has resigned as chief financial officer of Fonterra Co-operative Group and will take up a position outside the company. Fonterra said he would continue in the role until the close of the calendar year, allowing time for the handover.

The co-operative has not identified Murray’s next employer or position. It said the recruitment process for a new finance chief would start immediately. No successor has yet been announced.

Murray’s tenure at Fonterra

Murray joined Fonterra in 2023 as commercial director for the Global Markets business. He moved into the chief financial officer position in 2024.

During his time as CFO, Fonterra said Murray was involved in overseeing the divestment of Mainland Group. He also helped lead the co-operative’s enterprise resource planning transformation, along with other initiatives that Fonterra said were intended to prepare the business for the future.

Management response

Fonterra chief executive Richard Allen thanked Murray for his work and leadership. Allen said Murray had brought “clarity, discipline and momentum” to changes undertaken by the co-operative.

Allen also said Murray had strengthened Fonterra’s finance function and assembled “a highly capable team”. Fonterra said it wished Murray success in his new position. Murray will remain responsible for the CFO role through the transition period, which is scheduled to end at the close of the year.