Last Week's Meeting
Guest Speaker - Marc Rivers
CFO - Fonterra
Marc is the Chief Financial Officer (CFO) for Fonterra and kindly stepped in as a replacement for Miles Hurrell the CEO of Fonterra .
Marc lives in Pakuranga and enjoys doing the Rotary Club of Pakuranga 5 kilometre Rotary walk.

Marc has also produced a Ted Talk which is well worth listening to.  It is titled "Happiness is not what you get but what you give".  Here is the link:

Marc was born in Switzerland, grew up and was educated in the US.

Marc has extensive global experience having lived and worked in both emerging and established markets, including Thailand, China, Japan, Europe and the US.

Prior to joining Fonterra, Marc was the  chief financial officer at Roche Pharmaceuticals in Switzerland, overseeing $51 billion in revenue and product distribution to 140 countries. 

And before that he was CFO at another global pharmaceutical company Eli Lilly.

When Fonterra shoulder-tapped him in 2017 he decided it was time to exit pharmaceuticals and take on a new challenge in the dairy sector.

Marc says both industries appeal to him because they provide an opportunity to make the world a better place.  "You want to be certain that what you're doing is something that's useful and beneficial".

"In healthcare you're making medicine, you're helping to make people well or saving or improving lives."

With Fonterra, one of the world's largest dairy companies, he is helping deliver nutrition to the world, he says.

Within eight months of joining Fonterra in March 2018, Fonterra underwent many changes, including a new CEO and Chairman.

Looking back, Marc said that 2018 and 2019 was a difficult time for Fonterra with first time losses. 

Marc credits Fonterrra's CEO, Miles Hurrell with being the right leader that Fonterra needed, with a leadership style of listening to his team which was critical during this difficult period. 

Fonterra is a New Zealand based co-operative whose mission is to bring product out to the world, sell it and bring the cash back to New Zealand.  Now there is a very clear strategy as to where Fonterra is heading.

Marc's clear message is that 'you only know how good you are when you are tested'.  Covid-19 has been a real test for Fonterra.

Marc happily answered many varied and sometimes complex questions from members and guests.