Miles Hurrell's confirmation as Fonterra’s chief executive has been warmly received on social media. Read: Turning Fonterra around will take time — Hurrell. Fonterra confirmed the appointment of Miles Hurrell as its chief executive officer with immediate effect on Tuesday last week. He will be paid a base salary of $1.95 million, with additional short and long-term incentive payments based on the achievement of targets agreed with the board. Hawke’s Bay farmer and Ballance director Sarah von Dadelszen tweeted that it was “awesome news”. NZ Agricultural Trade Envoy Mike Petersen describes the appointment as inspiring. Former Fonterra communications head Kerry Underhill also congratulated Hurrell. Hurrell will get a base salary of $1.95 million, lower than that earned by his predecessor Theo Spierings, who recieved $8m in pay and bonuses during his last year at the co-op. One Facebook user Lance Phillips described the salary as “a bargain… less than half of Theo’s salary”.
New Zealand-based dairy product manufacturer Fonterra appointed Miles Hurrell as its CEO on his last year with immediate effect. The company's new leader, who will receive a base salary of NZD1.95m ($1.33m) along with short and long-term incentive payments, has been well received by those in the industry. Hurrell's pay cheque is a significant reduction from his predecessor Theo Spierings, who earned NZD8m in 5 March in the post.