Ms Kennedy, a qualified veterinarian, succeeds John Lea, who is stepping down at the end of November.
She has just completed a MIT Sloan Fellowship, and has held various senior executive positions in agribusiness and food industries.
She was a former general manager at NRM NZ Ltd, business manager with Tegal Foods Ltd, chief executive of Healtheries NZ Ltd and group chief executive officer of Vitaco Health Ltd.
During her time at Healtheries, she oversaw its merger with Nutralife which doubled the size of the organisation and increased market share significantly in both New Zealand and Australia, along with taking the business into international markets.
Fonterra recently acquired 100% ownership of RD1, which was formed in 2002 with the consolidation of the trading store networks of both the New Zealand Dairy Group and Kiwi Co-operative Dairies Ltd. Since 2006, revenue had increased from $394 million to $741 million.
"I am very much looking forward to this new role. RD1 is the backbone of the dairy rural supplies sector in New Zealand and with its return to full ownership by Fonterra is uniquely placed to support Fonterra shareholders to farm competitively," she said in a statement.
Mr Lea, who headed RD1 for seven years and was general manager of Fonterra Enterprises, grew the business from a group turnover of $320 million to approaching $1 billion and the number of RD1 stores from 50 to 63.
He intended pursuing opportunities within the wider Fonterra network.
• Queenstown businessman Sir Eion Edgar has been appointed to the board of Mt Cook Alpine Salmon, effective yesterday.
Board chairman Jim Bolger said Sir Eion would bring his "significant skills and experience" to the board, as well as take a private shareholding.
"Mt Cook Alpine Salmon is a fast-growing business, experiencing more than 100% growth per annum and is in the middle of a $20 million capital expansion that is designed to see a significant increase in export production within the next five years," Mr Bolger said.
"The board, shareholders and management are all looking forward to receiving the benefit of Sir Eion's extensive experience and commercial expertise."
Sir Eion is chairman of Dunedin-based Forsyth Barr Group Ltd, a firm of sharebrokers and investment bankers with 19 branches nationwide, was previously the chairman of the New Zealand Stock Exchange and a director of the Reserve Bank of New Zealand.
He said he was delighted to take on his new role and believed it was a "good time" to be moving in to the sector.
