In a statement, chairman Peter McBride said when Mr Hurrell was tasked with leading a reset of the business to turn around Fonterra’s financial performance and rebuild farmers’ trust when appointed chief executive in 2018.
"From day one, Miles was able to unite the team under a single purpose and drive performance right across the business, setting the co-op up for the future," Mr McBride said.
Mr Hurrell had a six-month notice period, which enabled an organised leadership transition.
"We are confident we can run a robust selection process and appoint a new CEO in the coming months," Mr Hurrell said.
Mr Hurrell said he believed the co-op was now in a really good place.
"While it’s not an easy decision to step away, the time is right for both the co-op and me personally.
"Fonterra’s entering the next phase in its strategic implementation, which marks a natural turning point for a new leader to step in while I consider what’s next for me," Mr Hurrell said. — Allied Media
