Miles Hurrell, the outgoing CEO of Fonterra was paid significantly more than his predecessor

False
Wynston Peters
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On Hurrell's 2026 resignation, Winston Peters brought up the pay of Fonterra's previous departing CEO, noting Theo Spierings was paid out a "ridiculous" $4.67 million in 2018 after earning $43m over seven years, and questioned how much Hurrell would receive. Fonterra says Hurrell gets no exit payment beyond his normal remuneration.

In fact, when Hurrell took over in 2018 he chose to be paid significantly less than Spierings had been; his pay rose over his tenure, reaching around $4.6 to 4.9m by FY2023, after Fonterra's record $1.6b profit. By the end of his decade-plus in the role was only slightly higher than his predecessor's, not "significantly more" as claimed.