KEY POINTS:
Another senior Fonterra executive is leaving as the dairy giant contemplates a radical capital facelift.
The co-operative announced yesterday that managing director of Fonterra GlobalTrade, John Shaskey, one of the company's top management figures, would leave at the end of June, taking with him a "wealth of knowledge and experience in global dairy markets".
Shaskey's impending departure follows the exit in January of Fonterra Brands managing director Sanjay Khosla, who has joined Kraft, one of Fonterra's biggest US rivals - and customers.
Shaskey has worked in the dairy industry for more than 30 years.
"John has made a significant contribution to the industry and to Fonterra," said Fonterra chief executive Andrew Ferrier.
"His leadership in developing and implementing the operating model for our global ingredients business at the time Fonterra was established is a significant achievement."
The Shaskey news follows company forecasts that the greatest growth will be seen in liquid dairy products, as opposed to the ingredients business.
Shaskey's responsibilities include global commodity sales, customer management, supply chain, sales and operations planning and the development of a formulated foods business. His career in dairy began in 1977 as transport co-ordinator for the Dairy Board, Fonterra's predecessor.
After a number of New Zealand-based operational and sales roles, Shaskey headed for Mexico in 1985 to become the Dairy Board's regional representative there, the first of several overseas assignments.
In 2001 Shaskey returned to New Zealand and when Fonterra was formed he became director sales and operations planning.
Fonterra's board of directors is due to present shareholders at the annual meeting on September 26 with a range of capital structure options that could include listing shares in Fonterra Brands.
