Fraser Whineray leaving Mercury

Mercury chief executive Fraser Whineray will move to Fonterra in early 2020 after more than 11 years’ service with Mercury.

He will become Fonterra’s chief operating officer, a newly created role where he will assume broad responsibilities for the co-operative.

Mercury chair Prue Flacks, who recently succeeded Joan Withers on her retirement, says Whineray – who has been chief executive for five years – has led Mercury to a strong position as a highly visible and successful electricity generator and retailer.

“Fraser has achieved a tremendous amount through his tenure, including setting the company on the next wave of its renewable energy growth path for the benefit of our customers, our communities, our owners and the country.”

Earlier, Mercury announced the development of the company’s first wind farm being built at Turitea near Palmerston North.

“Fraser simplified the business through the divestment of overseas interests and the sale of its former smart metering business, Metrix,” Flacks says.

“He oversaw the mothballing of the Southdown gas-fired power station in Auckland as the company turned its focus fully to renewable generation; he led a rebranding to Mercury from the two brands of Mighty River Power and Mercury Energy and he has developed with his executive team a compelling strategy for sustainable growth focusing on core pillars of the business.”

The process to appoint a successor to Whineray will begin immediately.

Whineray says he’s looking forward to returning to the dairy sector, where he began his career.