Key Takeaways
- Theo Spierings led Fonterra from 2011 to 2018.
- In 2017, his NZ$8 million salary made him one of New Zealand’s top-paid CEOs.
- He co-founded The Purpose Factory, promoting alignment with UN SDGs.
Theo Spierings, former Chief Executive Officer of Fonterra, passed away on Saturday, October 19, 2024, at the age of 60, after a brief illness.
He was a crucial figure in the global dairy industry, leading Fonterra, New Zealand’s largest dairy company, from 2011 to 2018.
His leadership spanned nearly seven years and was part of a 30-year career in the global dairy sector.
In a statement from The Purpose Factory, a consultancy he co-founded, they expressed their sorrow:
His legacy, and the impact he had on those he worked with and who knew him, will be remembered fondly. At this difficult time, Theo’s family has requested privacy. They appreciate the outpouring of love and support from around the world during this sad time. A private memorial service will be held in the Netherlands.
Via Thepurposefactory
Born in the Netherlands in 1964, Spierings earned a Bachelor’s degree in Food Technology/Biotechnology in 1986 and a Master’s in Business Administration from Glasgow University in 1991, which helped shape his career in the dairy industry.
Spierings started his career at Dutch dairy cooperative Royal Friesland Foods and played a crucial role in its 2008 merger with Campina, creating FrieslandCampina, a global dairy leader.
In 2011, he joined Fonterra, bringing with him extensive experience in managing dairy businesses across Asia, Africa, Latin America, the Middle East, and Europe.
He took on the role of CEO at a time when the global dairy industry was undergoing significant change.
During his time at Fonterra, Spierings focused on expanding the company’s international presence while promoting sustainability and innovation within the business.
In 2014, Fonterra invested NZ$756 million for an 18.8% stake in Chinese infant formula company Beingmate, hoping to capitalize on China’s growing dairy demand.
Unfortunately, the investment didn’t pay off, leading to significant losses for Fonterra.
In 2017, Spierings made headlines when his salary exceeded NZ$8 million, making him one of New Zealand’s highest-paid executives.
This sparked public debate, especially as Fonterra faced financial issues from the Beingmate investment.
In 2018, Spierings stepped down as CEO, explaining it was time for a leadership change and a desire to focus on personal projects.
After leaving Fonterra, he returned to the Netherlands. He co-founded “The Purpose Factory,” a consultancy that promotes sustainable business practices and helps companies align with the United Nations’ Sustainable Development Goals (SDGs).
In 2023, Spierings joined the Executive Board of ForFarmers N.V., a Netherlands-based livestock feed company, where he contributed his expertise to the agricultural sector for a year.
Theo Spierings’ career, spanning over three decades, was marked by both triumphs and setbacks.
Despite the challenges, his legacy as a global dairy leader and a strong advocate for sustainable business practices will continue to be remembered.
His passing at the age of 60 marks the end of a notable career that left a lasting impact on the dairy industry.
In Case You Didn’t Know
- Miles Hurrell took over the CEO role following Spierings’ exit from Fonterra in 2018.
- He lived in the Netherlands with his wife and three children before his passing.
