Mercury Energy chief executive, Fraser Whineray has been appointed to a senior management role at Fonterra, as part of the dairy giant's new strategy to improve its financial performance.
Whineray has been with Mercury for eleven years and will take up the newly created role of Chief Operating Officer at Fonterra starting in early 2020.
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The dairy co-op recently announced a new strategy and management changes as it looks to turn around its financial fortunes after posting a loss of $605 million for the 2019 financial year.
Fonterra CEO Miles Hurrell said Whineray was a results-oriented New Zealand business leader.
"Fraser has demonstrated he can transform organisations to achieve growth in complex environments through a focus on innovation, customers and his team," he said.
"He is motivated to contribute to New Zealand's export success and to drive sustainability, innovation and efficiency in business - three strengths that we believe can create real value," said Hurrell.
He said Whineray was also no stranger to the dairy industry, having started his career as a graduate of the New Zealand Dairy Board's technical training programme and spending time at some of our manufacturing sites and in our export markets.
"He is going to be a great addition to our management team".
Whineray said he was looking forward to returning to the dairy sector and working alongside the many dedicated people at Fonterra.
"I am pleased to be able to continue in a role which contributes to New Zealand, and has strong, genuine relationships with many regional communities, Maori land trusts and local iwi across the country," he said.
Whineray has held roles at Credit Suisse, Puhoi Valley Cheese and Carter Holt Harvey.
He is the Chair of the Prime Minister's Business Advisory Council and holds an MBA from the University of Cambridge, a Post Graduate Diploma in Dairy Science & Technology from Massey University and a Bachelor of Chemical & Process Engineering from the University of Canterbury.
Whineray will continue with Mercury until his move to his new role at Fonterra around the end of the first quarter of 2020.
Newshub.
