Fonterra’s CFO Andrew Murray Will Leave the Role

Andrew Murray joined Fonterra in 2023 as commercial director for the co-operative’s Global Markets business. He became chief financial officer in 2024 and is scheduled to remain with the company until the end of the calendar year.

Fonterra said the search for its next finance director would start immediately. Murray will continue working at the co-operative during the handover period, which the company said was intended to support an orderly transition.

During his time as CFO, Murray helped oversee the sale of Fonterra’s Mainland Group, the company’s enterprise resource planning system transformation and other initiatives. Fonterra said those projects formed part of efforts to position the co-operative for its next phase.

Chief executive Richard Allen thanked Murray for his contribution and leadership. “He brought clarity, discipline and pace to important changes the co-operative has been making,” Allen said. He added that Murray had strengthened Fonterra’s financial capability and built a highly capable team, and wished him success in his next role.

Fonterra has sold its consumer and integrated businesses to Lactalis in a transaction aimed at refocusing the company on a business-to-business strategy centred on ingredients and food service.

Allen previously led Fonterra’s ingredients business and has worked at the co-operative for 18 years in several global positions, including president of the Atlantic region and vice-president of food service. He became chief executive after Miles Hurrell left the role following eight years in charge.

In 2025, Allen appointed Teh-han Chow as chief executive for Greater China, Gaby Amade as president of Global Markets and Elisa Giusti as chief growth and strategy officer. Chow oversees Fonterra’s ingredients and food-service activities across Greater China; Amade is responsible for those businesses in Oceania, the Americas, South-East Asia, Japan, the Middle East and Europe; and Giusti leads integrated market, product and group strategy, portfolio optimisation, innovation and global new-business development.