Fonterra's chief financial officer to retire

Fonterra's chief financial officer, Jonathan Mason, has announced his retirement.

Mr Mason joined Fonterra in 2009 and helped launch Trading Among Farmers.

He will leave the co-operative in six months and Fonterra says it has started an international search to find his replacement.

Chief executive Theo Spierings said Mr Mason will leave Fonterra in a much stronger position than when he arrived.

Next story in Business: Pace of activity in services sector eases