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Fonterra has announced that its current chief operating officer, Fraser Whineray, will step down from the position, effective 31 July. Whineray joined the New Zealand cooperative in 2020, after leaving electricity company Mercury. Fonterra CEO Miles Hurrell said: “Fraser has set the co-op ambitious goals for decarbonisation and the management of water, and his enterprise leadership helped shape our new strategy and 2030 targets. He will leave our operations business unit in great shape with a longer-term outlook and a sharp focus on efficiency." He continued: “Fraser has indicated he intends to embark on a new career path and is looking to become more involved in venture capital as an investor and governor. I wish him well with this endeavour." Whineray will assist in the process of finding a successor.