Fonterra Management Appointments

Media Release

10 July 2013

Fonterra Management Appointments

Fonterra Co-operative Group today announced the appointments of Lukas Paravicini as Chief Financial Officer and Jacqueline Chow as Managing Director Global Brands & Nutrition.

Mr Paravicini takes over the CFO position from Jonathan Mason who retires at the end of September. Mr Paravicini joins Fonterra after 22 years with Nestle. He has been General Manager for Nestle Professional Europe for the last two years and prior to this he held a number of senior finance positions in different parts of the Nestle business including running their Global Business Services and spending 10 years in Latin America.

The MD Global Brands & Nutrition is a new role on the Fonterra management team, and leads a new function driving Fonterra’s overall marketing, innovation and research activities.

Ms Chow has a 20-year career in global blue-chip multinationals and joins Fonterra from Arnott’s, where she was General Manager of Australia and New Zealand and led the growth of its $1 billion business. She has held executive marketing and innovation roles in Campbell’s and the Kellogg Company, and started her career as a strategy consultant in consumer products.

Fonterra CEO Theo Spierings said the appointments reflected well on the co-operative’s continued ability as a global player in the dairy industry to attract high calibre, internationally experienced people to senior management roles.

“Lukas and Jacqueline will join our team which is focused on driving our V3 strategy forward. We look forward to them contributing their expertise at the top table.

“Lukas’ strengths and experience will be a considerable asset to Fonterra. He really understands dairy and has lived and worked in some of our most strategically important markets.

“Jacqueline will bring extensive FMCG and marketing experience to our marketing and innovation agenda in support of our strategy.”

With these appointments the Fonterra management team which drives the strategy and day-to-day performance of the business now comprises:

• Managing Director NZ Milk Products, Gary Romano
• Managing Director APMEA (acting), Johan Priem
• Managing Director Greater China & India, Kelvin Wickham
• Managing Director Latin America, Alex Turnbull
• Chief Financial Officer, Lukas Paravicini
• Managing Director Global Brands & Nutrition, Jacqueline Chow
• Managing Director People, Culture & Services, Chris Caldwell

The roles of Group Director Strategy, Maury Leyland, Group Director Co-operative Affairs, Todd Muller, and a new role of Group Director Communications, Kerry Underhill, will provide group-wide support and report to the CEO.

Group Director Mergers & Acquisitions, Paul Campbell, will report to the CFO.

Ian Palliser, who was previously MD Group Optimisation & Supply Chain, is taking up a role leading one of Fonterra’s key strategic initiatives. The functions within his previous role have been incorporated into other areas of Fonterra’s management team.

Sarah Kennedy’s next move will be the subject of a separate announcement. Ms Kennedy was previously MD Fonterra Nutrition which has been incorporated primarily into the new Global Brands & Nutrition function.

The new organisation structure will take effect from the start of Fonterra’s financial year on 1 August, 2013 with Mr Paravicini taking up his position in September and Ms Chow taking up her position in October.

ENDS

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