Fonterra Co-operative Group Ltd announces significant management changes, appointing Matt Bolger as Managing Director of Co-operative Affairs while Mike Cronin focuses on a key divestment project. The leadership adjustments aim to strengthen strategic initiatives within New Zealand’s leading dairy cooperative.
Fonterra Co-operative Group Ltd, a leading dairy exporter and one of the largest companies in New Zealand, has announced changes to its management team to bolster its strategic objectives. The announcement was made on October 14, 2024, highlighting a shift in leadership roles as the cooperative prepares for significant developments, particularly regarding the potential divestment of its Consumer business segment.
Mike Cronin, the current Managing Director of Co-operative Affairs, will dedicate his full attention to leading the divestment process, a crucial project expected to unlock substantial value for Fonterra’s farmer shareholders and unit holders. With a tenure at Fonterra since 2002, Cronin has played a pivotal role in several key initiatives, including the Trading Amongst Farmers scheme and the Governance and Representation Review. He will remain part of the Fonterra management team until the divestment process concludes.
In a notable shift, Matt Bolger, a former Fonterra executive with over 18 years of experience, will return to the cooperative as the new Managing Director of Co-operative Affairs starting March 5, 2025. Bolger has previously held several leadership positions at Fonterra, including General Manager of Capital Strategy and Director of Farmer Services. Since 2020, he has served as the Pro Vice-Chancellor of The University of Waikato Management School and currently chairs the Dairy Companies Association of New Zealand (DCANZ).
In his new role, Bolger will oversee critical functions such as Farm Source, Global Stakeholder Affairs and Trade, Governance, Risk and Audit, Corporate Communications, Legal, and Māori Strategy. CEO Miles Hurrell expressed confidence in Bolger’s abilities, emphasizing that his familiarity with Fonterra’s operations and stakeholder relations will be invaluable as the cooperative implements its revised strategy.
Fonterra’s leadership changes reflect its commitment to adapting to market dynamics and enhancing value for its stakeholders, all while navigating the complexities of the global dairy industry. The company remains focused on its mission to provide high-quality dairy products and support its farmer members in New Zealand and beyond.
