Mr Petrini has decided to return to France to accept a role with his former company, Danone, as Executive Vice President Strategic Resource Cycles in mid June this year.
Fonterra Chief Executive, Theo Spierings said today, “Since joining Fonterra in October 2013, Pascal has strengthened our consumer and foodservice business. He is a strong team player who has set a clear, focused strategy to drive both volume and value in our key APMEA markets. We respect his decision to accept a new challenge and thank him for his leadership of our APMEA business during his time with the Co-operative.
“APMEA continues to play a major role in enabling us to achieve our ambition to become a global Co-operative and we remain committed to the APMEA region and growing our consumer-branded and foodservice business.
“We have begun the process to recruit Pascal’s successor and our aim is to have a final structure in place by 1 August,” said Mr Spierings.
As an interim measure, the Co-operative’s APMEA business will be managed by a temporary structure with the heads of the regions reporting directly to the CEO.
Mr De Petrini’s resignation is effective immediately.