Fonterra chief executive Miles Hurrell has resigned, after a 25-year career at the dairy giant, including eight years at the helm. Chair Peter McBride said in a statement to the NZX that Hurrell had decided that the time was right for him to leave the co-operative. “When he was appointed CEO in 2018, Miles was tasked with leading a reset of the business to turn around Fonterra’s financial performance and rebuild farmers’ trust. “Under Miles’ leadership, the team has done that and more. 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.” Hurrell said it had been an incredible privilege to have a long career with Fonterra. “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.” McBride said Hurrell has 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.” More to come.