Few would have been aware of his earlier decade in leadership roles offshore – in Europe, the United States, Middle East, Africa and Russia – and his management courses at some of the world’s best leadership institutes. Still only 44, his dairy industry experience reaches back to the Dairy Board, when he joined the shipping division in 2000. That combination of home-grown talent, tertiary training, overseas experience, senior management and good relationships with farmers is what Fonterra has within its massed ranks and what all shareholders hope will lead the co-operative in the future.
Hurrell was perhaps the least obvious candidate for internal promotion to chief executive from what chairman John Monaghan calls a talented and capable front bench. To push the rugby analogy, Fonterra has skilled managers playing great games in specialist positions all over the world.
Monaghan’s short time as chairman has been very eventful. He now wants to take as long as necessary to review the company’s profile and direction before resuming the chief executive appointment process. That could mean almost anything and the time frame is open-ended. Farmers might hope he will elucidate at the annual meeting, to be held at the Lichfield plant in south Waikato in early November.
But a change in Fonterra’s strategy would not be smart, nor would it be welcomed. Many aspects of what it does here and abroad have added value to milk prices, the environment and the personal development of thousands of employees. Fix the Beingmate connection and make sure earnings and dividends are not regularly dragged down by high milk prices and Fonterra would be the multinational leader of this can-do country.
Your call now, Miles Hurrell, and we all wish you well.
Hugh Stringleman
