Meet Fonterra’s new chief financial officer, Andrew Murray

Fonterra's new CFO Andrew Murray says it's an exciting time to join the co-op. Photo / Christine Cornege

Content brought to you by Fonterra

The Country Sport Breakfast catches up with the team at Fonterra. Today, host Brian Kelly is joined by Chief Financial Officer, Andrew Murray.

Kelly asked Murray, “You stepped into the role as Fonterra’s Chief Financial Officer earlier this month, I know it’s only been a couple of weeks, but how’s it going so far?”

“There is something quite neat about starting the role at the beginning of a new financial year, it means a busy time wrapping up results from the year just ended with lots of activity happening across the co-op,” Murray said.

“Fonterra is in great shape, but with still room to improve and that is what we are focusing on.

“A really exciting time to join.”

From Scotland, Murray is Glasgow-born-and-bred but has spent 15 years over the ditch in Melbourne and four years in Singapore.

His background is in consumer goods and agribusiness.

Murray has worked as Chief Financial Officer at Simplot Australia, an agribusiness, as well as various senior roles at Mondelez International, with responsibility across Australia, New Zealand, Asia Pacific, Middle East and Africa.

Murray started with Fonterra about 18 months ago, the vast majority of that time with Global Markets as Commercial Director, based in Melbourne, looking after the finances of the Global Markets business.

“What are you most excited about in your new role?” Kelly asked.

Fonterra was in a great financial position, Murray said.

The co-op was working on its strategy and had recently announced a process to explore divestment of its Consumer, Australian and Sri Lanka businesses, he said.

This was to focus on growing value through the Ingredients and Foodservice channels and improve cost efficiency across the co-op.

That means Fonterra can now take the time to set the strategy for what success looks like in the long term and how it can create value for the co-op.

Murray was excited to be a part of shaping the co-op’s future and looked forward to getting out and meeting more of Fonterra’s people.

He will also be on the road with farmers in late September for the annual results roadshows.

So, Murray had a busy agenda ahead of him but that also meant there was a lot to be excited about for Fonterra.