Craig Norgate appointed to head GlobalCo

2.10 pm

CEO of Kiwi Co-operative Dairies, Craig Norgate, has today been appointed as the Global Dairy Company chief.

The GlobalCo board today appointed the 36-year-old Auckland accountant as CEO of New Zealand's biggest company, formed last month by the merger of the New Zealand Dairy Group and Kiwi Dairies.

Mr Norgate is expected to be paid about $1 million a year to run the $12.2 billion company.

GlobalCo will handle about 20 per cent of New Zealand's total exports.

Announcing the appointment today, GlobalCo Chairman, John Roadley said the company was delighted to have someone with Mr Norgate's leadership skills and experience in the dairy industry.

"In Craig, we have someone uniquely suited to head the new business we are creating. He has a track record of business growth, astute commercial decisions and strong leadership," he said.

The appointment of a CEO had been postponed twice as factions within the industry fought over who should head the company.

Other candidates Chris Moller and David Pilkington, both Dairy Board executives, had the backing of Dairy Group directors and shareholders, while Mr Norgate had the support of Kiwi Dairies constituents.

Mr Roadley said Mr Norgate had been selected from a list of extremely high quality candidates and would be the first CEO to lead the unified New Zealand dairy industry.

"Craig has the huge responsibility of leading New Zealand's biggest company into the deregulated environment and building on our success over the last fifty years," he said.

The appointment of Mr Norgate was made on the recommendation of a board subcommittee consisting of Mr Roadley, Greg Gent, Henry van der Heyden, Graeme Hawkins and John Hood.

It was assisted by the Australian office of Korn Ferry, an internationally-recognised firm with experience in multinational CEO recruitment.

Mr Norgate is currently a director of Mainland Products Ltd and Peters & Browne Foods, chairman of
Kiwi Dairy Products Ltd and Food Solutions Group and a director of the New Zealand Rugby Football Union.