Fonterra's current chief financial officer Lukas Paravicini has been appointed as the company's global consumer and foodservice chief operating officer.

Effective from June 1, Lukas will replaces Jacqueline Chow who was appointed to the role in 2016.

When she took up the role, Fonterra indicated Jacqueline would lead Fonterra's global consumer and foodservice business unit until the first half of 2017, in the lead up to her return to Australia to pursue a board career.

Lukas will continue as CFO until June 1, however, the company says he will also play an important role in ensuring stability and consistency through to the announcement of Fonterra's results for the 2017 financial year, which ends on July 31.

Fonterra confirms it is proceeding with the appointment of a new chief financial officer and is aiming to announce this over the coming months.

Fonterra's chief executive officer Theo Spierings says he is delighted to have someone of Lukas' calibre to continue leading a high performing consumer and foodservice business.

'Lukas has been with Fonterra for over three years and is well known to us as a world-class finance executive. He came to us from Nestlé with not only international finance experience but a successful career leading global food businesses in established and emerging markets.

'Lukas has an in-depth understanding of global brands and the importance of meeting and anticipating the needs of customers through constant innovation and world-class performance.

'He and his family have experienced many different cultures around the world and he is fluent in five languages.”

Theo also thanked Jacqueline for her work in bringing together the new business unit with her wealth of consumer and foodservice experience and her strong people leadership.

She will work closely with Lukas to assist with a smooth transition to his new role.