Fonterra CFO resigns as 2027 guidance shapes Fonterra Shareholders Fund stock

Published on 10/25/2026 at 02:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Andrew Murray will stay through year-end after resigning on October 16, 2026. 2027 guidance remains 65c-85c for Fonterra Shareholders Fund stock.

Leadership transition and earnings

Andrew Murray's resignation was announced on October 16, 2026.
Fonterra's 2027 earnings guidance is 65c-85c per share.
Fonterra Shareholders Fund stock was last at NZD 9.48 on October 23, 2026.

FSF, NZFSFE0001S5, Illustration mit AI erstellt.

Fonterra Shareholders Fund (ISIN NZFSFE0001S5) enters a leadership transition after Chief Financial Officer Andrew Murray resigned on October 16, 2026, according to Fonterra. Murray will remain with the co-operative until the end of 2026, while recruitment for his successor begins. The company also maintains 2027 earnings guidance of 65c-85c per share.

Three dated signals shape the fund

On September 24, 2026, Fonterra reported fiscal year 2026 revenue of NZD 27.0 billion, underlying operating profit of NZD 1.8 billion and earnings per share of 71c, according to the company's investor materials. On October 6, 2026, Fintel reported that the average analyst target had risen 13.22 percent from NZD 7.51 to NZD 8.51, based on nine recommendations compiled as of September 29, 2026. On October 16, 2026, Fonterra announced Murray's resignation and said he would support the transition through year-end.

What does 65c-85c mean for returns?

The guidance range sits against fiscal year 2026 earnings per share of 71c and total dividends of 73c, both reported by Fonterra for the year ended July 31, 2026. Return on capital was 14.2 percent, up from 11.7 percent, giving investors a direct measure of the earnings quality behind the distribution. The range therefore frames the next test as execution, rather than a fresh change to the published outlook.

Dates for holders to track

Fonterra's next two dated investor events are the co-operative annual meeting on November 12, 2026, and the Fonterra Shareholders Fund annual meeting on November 16, 2026, according to FinancialFilings. The November meetings put governance and the CFO succession process next to the earnings outlook.

Latest quoted unit price

FSF units were last quoted at NZD 9.48 on the NZX on October 23, 2026, at 6:55 p.m. NZDT. That level was NZD 0.01 higher than the preceding session, while the same quotation showed a high of NZD 9.49, a low of NZD 9.38 and volume of 117,756 units.