Fonterra Co-operative Group Ltd has announced changes to its Management Team to support the next phase of its strategic delivery.
Managing Director of Co-operative Affairs Mike Cronin has been leading the potential Consumer divestment process and will dedicate his focus to this critical project full-time.
Former Fonterra alumni Matt Bolger will return to the Co-op and assume the position of Managing Director of Co-operative Affairs in March 2025.
“Exploring options for the potential divestment of our consumer businesses is one of the most important projects Fonterra has undertaken, and it has the potential to unlock significant value for our farmer shareholders and unit holders,” said CEO Miles Hurrell.
“As we progress this work, Mike will step away from the Managing Director Co-operative Affairs role to dedicate his time to the potential divestment. He will remain a key member of the Fonterra Management Team.”
Cronin has been with Fonterra since 2002 and has been involved in several key strategic projects for the Co-op, including Trading Amongst Farmers, the Governance and Representation Review, the Co-operative Difference and Flexible Shareholding.
“Mike is a highly respected leader and industry figure, holding the Managing Director Co-operative Affairs role since 2014. I value his trusted advice and strategic leadership. He will remain with the Co-op until the potential divestment process is concluded.”
Hurrell also announced Matt Bolger’s appointment to the Managing Director Co-operative Affairs role and looked forward to welcoming him back to the Co-op on the 5th of March.
Bolger has spent more than 18 years with Fonterra in various roles, including General Manager of Capital Strategy and Director of Farmer Services, and has led global sales teams offshore.
He stepped into his current position as pro-Vice Chancellor of the University of Waikato Management School in 2020. He is the current Chairman of the Dairy Companies Association of New Zealand (DCANZ).
As Managing Director of Co-operative Affairs, Bolger will be responsible for functions including Farm Source, Global Stakeholder Affairs and Trade, Governance, Risk and Audit, Corporate Communications, Legal and Māori Strategy.
“As we implement our revised strategy, Matt’s knowledge of the Co-op’s farmers, stakeholder relations experience and commercial acumen will serve him well.”
Bolger completed his Bachelor of Science in Business Administration at Georgetown University in Washington, D.C., majoring in International Business and Minoring in English and Japanese.
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