November 27, 2018

  
Fonterra's chief operating officer resigns
  

Troubled dairy co-operative Fonterra has announced the resignation of Lukas Paravicini, its chief operating officer of its global consumer and foodservice business.

Paravicini - who was said to be "instrumental in maintaining the financial strength of the co-operative" during challenging times, according to Fonterra CEO Miles Hurrell - will leave New Zealand-based Fonterra in January next year and return to Europe. 

He first joined the co-op's management team in 2013 as chief financial officer, before taking up his current role.

"[Paravicini] spearheaded initiatives such as the Co-operative Support Loan and championed Fonterra’s business transformation,” Hurrell said. He noted that Lukas had moved seamlessly from Fonterra’s "numbers man" to leading its global consumer and foodservice businesses.

Fonterra is expected to announce Paravicni's replacement soon.

- Fonterra