Fonterra CFO Andrew Murray resigns to take outside role

 New Zealand's Fonterra said on Friday that Chief Financial Officer Andrew Murray had resigned to take up a role outside the company, according to Reuters. 

Murray joined Fonterra in February 2023 as the commercial director of its global markets division, before taking over as group CFO a year later. During his tenure, he helped steer major strategic initiatives designed to strengthen the dairy firm's long-term performance and future growth prospects, the firm said.

Prior to Fonterra, Murray was the finance chief of Simplot Australia, a diversified agribusiness firm, and held senior finance roles at Cadbury parent Mondelez International. 

Murray will remain CFO until the end of 2026, Fonterra said, adding it would start the recruiting process for a new CFO immediately.

In March, Fonterra named insider Richard Allen as its CEO following the resignation of Miles Hurrell.

Fonterra shares were 0.9% higher at NZ$5.42, as of 0053 GMT.