Fonterra has pinned its growth on pulp and paper businessman Alexander Toldte.
He joins the mega co-op tomorrow as chief development officer and managing director of Fonterra Enterprises, a nominal component of the company.
He will also be responsible for the company's relationship with the Government and external stakeholders.
As head of Fletcher
Paper, Mr Toldte, a German, ushered in Norske Skog's $5 billion takeover of Paper.
He quit as chief executive-designate of Fletcher Challenge Building in January.
He previously was a partner and co-leader of McKinsey and Company's global pulp and paper group and had wide forest products experience in North America and Europe.
Fonterra Enterprises will control key businesses, including genetically engineered animal feeds and dairy products, biotechnology such as DNA selection of plants and animals for breeding for special traits, e-commerce and rural supply.
- NZPA
