21 Dec 2024

Fonterra | Miles Hurrell on getting Fonterra back to basics

Miles Hurrell has been at the helm of Fonterra for five years now, and to say he's conducted a turnaround job is probably an understatement.

Miles Hurrell has been at the helm of Fonterra for five years now, and to say he’s conducted a turnaround job is probably an understatement.

The year he took over – 2019 – Fonterra reported a net loss of $605 million.

The co-op did not pay a dividend.

Since then, the company sold off Tiptop as well as its farms in China, its business in Chile and the joint venture in Brazil and set up a new capital structure.

Earlier this month it raised its forecast price range to $9.50 to $10.50 a kilo of milk solids and recently it confirmed plans to sell its well-known consumer brands businesses – including Anchor and Mainland.

Miles Hurrell speaks to Kathryn Ryan about getting the company back in the black.

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Fonterra

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