The Fonterra Co-operative has a new managing director of Fonterra Brands, New Zealand in Brett Henshaw.
Henshaw, currently the managing director of The Griffin’s Food Company, brings experience from a 30-year long career in FMCG. He’s held brand positions with Unilever as well as a number of senior marketing roles with Colgate-Palmolive worldwide including regional general management roles in Australasia and in Asia.
And prior to being appointed managing director of The Griffin’s Food Company in 2016, he’d been the company’s chief marketing officer since 2015.
Fonterra chief operating officer, global consumer and foodservice Lukas Paravicini says Henshaw has a deep understanding of consumers, their needs and how to deliver those needs.
“Brett has a strong commercial and strategic focus as well as end-to-end experience across the supply chain, including manufacturing and operations. He is also recognised for the emphasis he places on people – a culture of mentoring, development, teamwork and open communication is important to him.”
Henshaw will take up his new role in the first week of December.
The announcement of his appointment comes as Fonterra faces up to a reported net loss of $196 million in the 2018 financial year.
In the announcement, CEO Miles Hurrell said the performance was below expectations.
"At our interim results, we expected our performance to be weighted to the second half of the year. We needed to deliver an outstanding third and fourth quarter, after an extremely strong second quarter for sales and earnings but that didn't happen."
Hurrell also said the results are not just numbers – they are the livelihoods of the co-operative’s farmers and their families, and the investment of unitholders.
“There are people depending on us – farmers, unitholders and employees who want to be part of a successful Co-operative. We are putting in place a clear plan for how we are going to lift Fonterra’s performance. It relies on us doing a number of things differently.”
That plan is based on three immediate actions, including taking stock of the business, getting the basics right and ensuring more accurate forecasting.