New Zealand's Fonterra shares rise on new CEO appointment

Fonterra-operative

13/04/2026 01:29

** Shares of New Zealand's Fonterra FCG.NZ up 6.7% at NZ$4.49, according to data from New Zealand's bourse operator NZX

** Company appoints Richard Allen as its chief executive officer

** Allen succeeds Miles Hurrell, who resigned in March

** The company implemented NZ$3.2 billion ($1.86 billion) capital return using proceeds from the sale of its global consumer and associated businesses, Mainland Group to Lactalis

** Stock up 43.04%, YTD

   ($1 = 1.7212 New Zealand dollars)

 (Reporting by Sruthi Narasimha Chari in Bengaluru)

 ((Sruthinarasimha.chari@thomsonreuters.com))