Fonterra’s choice of a long-term grassroots insider as interim chief executive is a very public statement that it is a farmer-owned business, says veteran sharemarket analyst Brian Gaynor.

But Fonterra should also remember that a “huge” amount of its funding and borrowing comes from the non-farming investment community and it should improve its communications with that sector accordingly, said the Milford Asset Management executive director.

Fonterra’s appointment of 44-year-old Kiwi Miles Hurrell, who has worked for the company for 18 years in a range of New Zealand and international management jobs, has been welcomed by farmer-shareholders.

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