GlobalCo's candidates bring in billions

By PHILIPPA STEVENSON agricultural editor

The leading candidates for Global Dairy Company's top job jointly snared sales of $10.9 billion last year.

A proposed mega-merger of Kiwi Dairies and the NZ Dairy Group may create New Zealand's biggest company - double that of present leader Telecom - but dairy industry component enterprises are already big business.

The youngest of the frontrunners for GlobalCo chief executive is 35-year-old Craig Norgate, who is chief executive of Kiwi Dairies - the firm which reclaimed ownership of the Tip Top brand. Kiwi's turnover was $3.5 billion last year.

In 1999, the monopoly exporting Dairy Board reorganised along product category lines.

Chris Moller, 46, also with his hat in the ring for the GlobalCo job, is managing director of the ingredients business NZMP, which last year had $4.5 billion in sales.

Consumer business NZ Milk, headed by another candidate, 46-year-old David Pilkington, turned over $2.9 billion last year.

The Business Herald understands that there are three other candidates on the shortlist - two NZ-based executives from outside the dairy industry, and one from overseas.

The job is expected to pay at least $1 million a year.

Of the leading candidates, Mr Pilkington has been in the dairy industry longest. The Canterbury University science graduate joined the dairy industry graduate training programme 25 years ago.

After working in the board's technical division, he switched to marketing, spending eight years in the US and Tokyo. He took over NZ Milk last year from Peter Cowan, who resigned as managing director.

In December, Mr Pilkington said: "Our strategy calls for doubling the business over the next five years."

Mr Moller, who has a commerce degree and accounting diploma, has worked in a range of businesses, including Arataki Honey, Challenge Corporation, Baring Brothers and Fletcher Challenge.

He joined the board as an investment manager, and went on to become general manager of the cheese division, the finance division, and the international and ingredients groups.

He has headed NZMP since its inception. "It's a race and we're the leaders in the race but it's a race without an end. You've got to keep on running because the moment we slow down, they'll catch us," he said.

Mr Norgate followed in his late father's footsteps 10 years ago to become one of two general managers of then solely Taranaki-based Kiwi. He had previously worked for the Maori Affairs Department, meat firm Lowe Walker and Lactose NZ.

The chartered accountant was Young Accountant of the Year in 1994. He trained at the European Institute of Business Administration and Harvard Business School. He is a director of the Dairy Board.

He said last year: "I believe that as owners of this industry, you have the ability to own a significant share of one of the few global dairy companies that will exist in 20 years."