New Zealand dairy giant Fonterra has said that it is commencing a worldwide search for a chief executive as part of an agreement to re-advertise for the position currently held by Craig Norgate.

Fonterra was formed 14 months ago with the merger of New Zealand Dairy Group and Kiwi Cooperative dairies. As part of the merger, candidates for the position of CEO were to be assessed at the end of Norgate’s fixed two-year contract, reported Reuters.