Fonterra Confirms Board Positions

Fonterra Chairman Elect, John Wilson announced that Sir Henry van der Heyden would stay on the Board as a farmer-elected director.

01 Oct 2012 --- Fonterra Chairman Elect, John Wilson announced that Sir Henry van der Heyden would stay on the Board as a farmer-elected director for the first part of next year after he stands down as Chairman in December. Also, Appointed Director Ralph Waters would extend his tenure for up to six months beyond the 2012 annual meeting in December.

“As we move ahead on the implementation of Trading Among Farmers it is important the Co-operative has continuity and experience around the Board table. As a result both Henry and Ralph have agreed to stay on until after TAF is up and running.  They will provide valuable guidance during this period. Their involvement is in the best interests of the Co-operative and the Board has thanked them both for being flexible.”

Mr Wilson said that Mr Waters’ extended appointment would need to be ratified by farmer shareholders at the annual meeting in December. The process to identify a new appointed director was already underway. Sir Henry would remain on as part of his normal farmer-elected term which runs to the annual meeting in 2013. 

“However, neither Henry nor I think it will be necessary for him to stay this long. He has made other professional and personal commitments that he is keen to pursue as soon as possible.”