New Zealand dairy giant Fonterra Cooperative has appointed Canadian Andrew Ferrier as its new chief executive.

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Ferrier is currently chief of GSW, a Canadian maker of household water heaters and building products. He previously spent 16 years working in the sugar industry in Canada, Mexico, the UK and the US, reported Reuters.


Ferrier is to take up his new role in September. Fonterra’s current CEO Craig Norgate is to leave the company when his current contract expires in July. Norgate was asked to reapply for the NZ$2m-a-year job last December as part of a worldwide search for a CEO.


Fonterra was formed two years ago though the merger of New Zealand’s two main dairy companies, Kiwi Cooperative Dairies and New Zealand Dairy Group, and the export board that they jointly controlled.

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