Fonterra scotches media report that Spierings is to leave, with Air NZ's Luxon eyed as replacement

Fonterra Cooperative Group has categorically denied a report in The Australian newspaper that chief executive Theo Spierings is to leave the world's biggest dairy exporter and that Air New Zealand chief Christopher Luxon is being considered as a replacement.

The report tied Spierings' departure to the weak performance of its Australian arm and may have been triggered by criticism both Fonterra and Murray Goulburn have faced in cutting their forecast milk payouts to Australian farmers, which prompted the Australian government to announce a support package of low-interest loans. Murray Goulburn CEO Gary Helou recently stepped down after the Australian dairy cooperative cut its profit guidance.

"There is no substance to the rumour," a Fonterra spokesman said. "Our response is absolutely and categorically no."

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

A thank you from Stuff's owner and publisher
FPH Appoints New Director and Future Director
January 19th Morning Report
January 15th Morning Report
January 14th Morning Report
WIN - Winton Announces Timing of its Interim Results for FY26
FBU - Fletcher Building Quarterly Volume Report for Q2 FY26
January 13th Morning Report
RAK - Rakon Receipt of Takeover Notice
January 12th Morning Report