New Zealand dairy giant Fonterra has announced the appointment of Guy Cowan to the position of chief financial officer, effective 1 March.

Cowan, 53, is currently vice president of finance and chief financial officer for Shell Oil Company in the US. He is also a director of Shell Petroleum Incorporated, the holding company for Shell’s US interests, and a member of the Shell Oil Leadership Team. Previously, Cowan, who has been employed by Shell for the last 23 years, held a number of finance positions in the company’s Latin American, European, African and Australian operating units.

Announcing the appointment, Fonterra’s chief executive officer Andrew Ferrier said Cowan was an experienced senior financial executive, with a strong track record across a wide range of business disciplines relevant to Fonterra.