Craig Norgate, former Fonterra CEO, dies in UK, media reports say

Craig Norgate, who was inaugural chief executive of Fonterra Cooperative Group when it was formed from the merger of  Kiwi Cooperative Dairies, NZ Cooperative Dairy Co and the NZ Dairy Board, has died in London, media have reported, citing family members.

Norgate ran New Zealand's biggest dairy company for two years and then teamed up with the McConnon family to form Rural Portfolio Investments, which acquired a controlling stake in rural services group Wrightson, merging it with Pyne Gould Guinness in 2005 to form PGG Wrightson.

He was instrumental in the creation of NZ Farming Systems Uruguay, which aimed to repeat Fonterra's success by developing dairy farms in South America using New Zealand farming techniques. His grand vision faltered in 2008, when Wrightson was caught by the credit squeeze from the global financial crisis in 2008 and was unable to settle an unconditional offer to buy a half stake in Silver Fern Farms for NZ$220 million.

Most recently he had responsibility for overseeing the merger of Chartered Accountants Australia with its New Zealand counterpart. He didn't front for the current lawsuit taken against the accounting body by rival CPA Australia.

BusinessDesk.co.nz

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