Fonterra appoints pharma veteran as new Chief Financial Officer

NEW ZEALAND – Fonterra, the multi-national dairy cooperative company, has announced the appointment of Marc Rivers as the company’s new Chief Financial Officer effective March 1, 2018.

Marc is an experienced global finance executive with exemplary strong strategic leadership capability, who is known for his commitment to leading and developing his people, with a track record of building diverse and inclusive teams.

Rivers comes in to replace Paul Washer who had been the acting CFO since August 1.

Washer was an interim replacement for Lukas Paravicini who took over as chief operating officer, global consumer and food service. He is set to take over as Vice President, Commercial for Greater China from February 1, 2018.

Last year Fonterra recorded US$ 17.2billion in revenue that saw Rivers described as “an experienced global finance executive with strong strategic leadership capability”.

As the current CFO at Roche Pharmaceuticals Division in Switzerland, with oversight of US$37.25billion in sales inclusive of 14 manufacturing sites around the world, Roche is responsible for product distribution for 140 countries, focusing on innovation pipeline and customer market development.

With a Bachelor of Arts in International Studies and International Masters of Business Administration, Marc also has extensive global experience having lived in both emerging and established markets, including Europe, Japan and US.

“Marc will be a great addition to the Fonterra Management Team. His track record of global financial leadership and his personal alignment to our Fonterra values will be a real asset to us,” says Fonterra Chief Executive, Theo Spierings.

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