Wellington, Jan 21 NZPA - The new chief financial officer of Fonterra is Jonathan Mason, who moves to the dairy giant from United States-based multinational specialty chemicals company Cabot Corporation.

Mr Mason's appointment is effective from February 16. He succeeds Guy Cowan, who announced his retirement in early 2008 and will be leaving the group at the end of February.

Fonterra said Mr Mason was a highly experienced finance executive with a strong track record internationally and in this country -- including as chief financial officer for forest products group Carter Holt Harvey from 2000 to 2005.

At Cabot he had been executive vice-president and chief financial officer since 2006.

Between 1990 and 2006, Mr Mason worked in various roles at US-based International Paper, the world's largest forest products company, rising eventually to vice-president and treasurer, Fonterra said.

His time at Carter Holt Harvey was during the period when International Paper owned 50.1 percent of the New Zealand-based company.

American by birth, Mr Mason is married with two children, one of whom was born in New Zealand.

Fonterra chief executive Andrew Ferrier said Mr Mason had particular strengths in areas such as cash flow management, shareholder value creation and capital structuring.

"Jonathan's international experience, combined with his knowledge of and passion for New Zealand, makes him an excellent choice for this important and challenging role."

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