1 Mar 2011

Ferrier to step down as head of Fonterra

9:32 pm on 1 March 2011

The chief executive of Fonterra, Andrew Ferrier, will step down later this year after eight years in charge.

The dairy co-operative says Mr Ferrier will leave sometime in the second half of the year after a successor is found.

The company will consider internal and external candidates.

Fonterra, which is owned by about 11,000 farmers, generates annual sales of $17 billion.