Craig Norgate, CEO of New Zealand's newly created Fonterra Cooperative , vowed that the dairy giant would be "ruthless" in its use of capital and its aggressive global strategy for alliance and joint ventures. Speaking at a meeting of the Wellington Chamber of Commerce yesterday, Norgate said: "As we look at our options internationally, we will be ruthless in our use of capital. We need to ensure we are maximising the return on the funds we employ."