In 2006, a phone call piqued the interest of Ross Pritchard FCA. It was from Whittaker’s chocolatier, a privately held confectioner based in New Zealand, which had been making sweet treats for 110 years.

The call invited Pritchard, then at KPMG – where he had spent six years auditing Whittaker’s – to come in for a chat about a financial controller role. At the time, J H Whittaker & Sons had about 45 employees, but no qualified accountant on staff.

“I lived locally and a discussion with the owners turned into an opportunity to rebalance my family and work-life balance, and enable a change of career path with Whittaker’s,” Pritchard says. He took the role in early 2006 and has been with the company ever since, with his role transitioning to CFO along the way.

Besides better work-life balance, Pritchard says he was drawn to the firm because it was – and remains – small and privately owned, meaning he’s been able to get involved in aspects of the business beyond just managing the money. Along with finance, he’s done everything from communicating with customers and negotiating with suppliers, to purchasing raw materials and packaging, and spending time on the factory floor doing stocktakes.

“I even helped load containers of chocolate bound for Australia from time to time,” he quips. “I genuinely loved that hands-on experience because it made for some great work stories and, more importantly, gave me a really deep understanding of how the business worked from the ground up.”

FMCG moves fast

Pritchard says the fast-moving consumer goods (FMCG) landscape has shifted markedly over the past two decades. In New Zealand, the growing scale and sophistication of large, Australian-owned supermarkets has lifted the bar for commercial discipline. These entrants into the New Zealand market mean that promotional funding, trade terms and data-driven category conversations are now more complex and consequential than they were a decade ago.

For Whittaker’s, he says, this has meant being crystal clear on product and customer profitability. It also requires the company to ensure price integrity across all channels, along with staying in alignment with the grocery codes of conduct in New Zealand and the overseas markets where Whittaker’s is present. Competition regulators are always waiting in the wings to swoop if they spot anything untoward.

Pritchard notes consumer behaviour has also evolved. External shocks like COVID-19, supply-chain disruption and fuel price swings have all changed how and where people shop, and which formats they prefer.

“We saw that firsthand,” he says. “Impulse lines like Peanut Slabs at petrol stations softened during lockdowns, while larger take-home formats such as 250g blocks of chocolate and online grocery picked up as chocolate lovers spent more time at home.”

CFO challenges in FMCG

Pritchard says CFOs in the FMCG sector face unique challenges. One of the biggest is maintaining margin in a highly competitive, high-volume market.

Input costs such as ingredients, packaging, freight and energy can be volatile, particularly when currency shifts and the volatility of exchange rates are considered. There is often little opportunity to pass on those increases quickly, due to intense retail competition and customer expectations linked to price consistency.

New Zealand’s distance from many global markets presents an additional obstacle, impacting shipping lead times and adding complexity to supply chains. “That can sometimes present some challenges, as many of our raw materials are imported from overseas,” says Pritchard, “and we also export finished goods to many markets around the world.”

Consumer expectations are also evolving rapidly, particularly around sustainability, ethical sourcing and transparency, he adds. “Our cocoa is fully traceable to farm level, which means we know exactly where our cocoa beans come from, all the way back to the cooperative and farmer.

“As CFO, I need to ensure there is a balance between the investment required to meet these expectations with long-term value creation, while ensuring the business remains financially resilient and well positioned for future growth.”

The next 130 years

Pritchard says the company is setting itself up for the next 130 years by staying true to its identity, while continuing to innovate and evolve with changing consumer expectations – an approach reinforced by being named New Zealand’s Most Trusted Brand for the 14th consecutive year in 2025.

At the heart of this is Whittaker’s commitment to quality, investments in manufacturing, and refusing to compromise on ingredient quality or taste.

“As a New Zealand family-owned business, we focus on quality and crafting world-class chocolate, from bean to bar, right here in Porirua,” Pritchard says. “We’re committed to sourcing the very best ingredients, both from around the world and close to home.”

This commitment to local ingredients is evident in the brand’s 100g artisan range, which features flavours such as Black Doris Plums and Roasted Almonds, and Marlborough Sea Salt and Caramel Brittle.

Pritchard says Whittaker’s plans to continue developing new flavours, formats and collaborations that keep the brand relevant to new generations, while still appealing to loyal chocolate lovers.

“Ultimately, it’s about balancing heritage with innovation – protecting what people love about Whittaker’s today, while thoughtfully adapting to ensure it remains just as loved for generations to come.”