Fonterra names new CFO

Fonterra Co-operative Group named Marc Rivers as chief financial officer, a position he currently holds at Roche Pharmaceuticals in Switzerland, and said he will take up the job on March 1 next year.

Mr Rivers will take up the CFO position left vacant when Lukas Paravicini was transferred to the position of chief operating officer, global consumer and food service in June. Mr Paravicini  took over from Jacqueline Chow.

Auckland-based Fonterra said Mr Rivers  had oversight of $51 billion in sales, including 14 manufacturing sites, and had worked in emerging and established markets, including Thailand, China, Japan, Europe and the US.

"His track record of global financial leadership and his personal alignment to our Fonterra values will be a real asset to us," chief executive Theo Spierings said in a statement.

- Jonathan Underhill

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