Fonterra Appoints Richard Allen CEO

Fonterra, New Zealand's largest exporter, announced the appointment of Richard Allen as its new Chief Executive Officer, effective May 1, 2026. Allen, a long-time Fonterra employee, will succeed Miles Hurrell, who resigned in March and will remain in an advisory role until September 2026 to ensure a smooth leadership transition. This appointment comes shortly after Fonterra completed the sale of its global consumer and associated businesses, including Mainland Group, to Lactalis, marking a significant strategic shift for Fonterra to focus entirely on its role as a business-to-business dairy ingredients provider. Peter McBride, Fonterra's chair, highlighted Allen's strong connection with farmer shareholders and customers, as well as his deep knowledge of Fonterra's global operations and markets, making him well-suited to lead the company in its new direction.