Fonterra chief executive Theo Spierings. Photo: NZ HeraldFonterra chief executive Theo Spierings, who caused controversy when his $8.32 million salary was revealed last year, has resigned and will step down this year. "We are in the process of the CEO succession plan, and we're committed to the smooth transition to the next chief executive," Wilson said. Dutchman Spierings took over the role as Fonterra chief executive in 2011, replacing Andrew Ferrier and beating internal candidates for the job. The announcement follows an after-tax loss of $348 million in the first half to January 31, down 36 per cent.

Source: Otago Daily Times March 20, 2018 22:07 UTC