Fonterra has launched a global search for a chief financial officer to replace Jonathan Mason, who plans to retire in the next six months.

Commenting on the news, CEO Theo Spierings said that Mason had “strengthened” Fonterra’s financial position and “improved” its capital structure since joining the dairy cooperative in 2009.

“Jonathan will leave Fonterra in a much stronger position and we are grateful to him for this contribution.”

Mason will continue to support Fonterra until the end of the financial year, while the group identifies a successor.