March 20, 2018 / 10:13 PM / a year ago

NZ's Fonterra says Spierings to step down as CEO later this year

March 21 (Reuters) - New Zealand dairy giant Fonterra said on Wednesday that Chief Executive Theo Spierings will leave his role later this year as part of a planned succession process.

“It is not yet clear exactly when any appointment for Theo’s replacement will be made, but it is absolutely clear that Theo will continue in the meantime to drive the Co-operative’s strategy and business, with special emphasis on China,” said Chairman John Wilson. (Reporting by Shashwat Pradhan in Bengaluru Editing by Leslie Adler)

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