Former Fonterra CEO Theo Spierings has passed away in the Netherlands following a brief illness, leaving behind a complex legacy in the dairy industry after leading the cooperative through significant challenges.
Theo Spierings, the former chief executive of New Zealand’s largest dairy cooperative, Fonterra, has passed away after a brief illness. The announcement came via a consultancy he was associated with, stating that he died over the weekend. Spierings’ family has requested privacy during this difficult time and expressed gratitude for the outpouring of support received globally.
With a career spanning over 30 years in the dairy industry across Europe and New Zealand, Spierings returned to his home country of the Netherlands following his resignation from Fonterra in 2018. He took the helm at Fonterra in 2011 during a challenging period for the cooperative, which had been dealing with the fallout from a melamine contamination scandal in 2008 and financial struggles related to investments in the Chinese dairy sector.
Before leading Fonterra, Spierings was the CEO of Friesland Foods, a prominent Dutch dairy cooperative, where he oversaw its merger with Campina in 2008. His appointment at Fonterra was initially met with optimism, as industry experts believed his extensive experience would help restore the company’s reputation and guide its global ambitions.
Under Spierings’ leadership, Fonterra aimed to expand its operations in China, Latin America, and Asia, engaging in joint ventures and direct investments in Chinese dairy farms. However, his tenure was marked by fluctuating milk prices that often strained relationships between farmers and the cooperative. Fonterra faced further challenges in 2013 when it had to conduct a worldwide recall of products due to suspected botulism contamination, which once again affected its reputation.
Spierings’ high salary was frequently a topic of controversy during his time at Fonterra. His compensation, which reached $8 million by the time of his departure, stood in stark contrast to the financial difficulties faced by many farmers. Despite this, Fonterra defended his salary, emphasizing the scale and complexity of managing the cooperative, which is a cornerstone of New Zealand’s economy.
Spierings’ legacy in the dairy industry is significant, and he is remembered for his contributions to the cooperative model and global dairy production. A private memorial service is set to be held in the Netherlands to honor his life and impact.
