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February 1, 2017


Fonterra Board's director steps down

 

 

 

Fonterra Co-operative Group Limited announced that director Michael Spaans has stepped down from the Fonterra Board with effect from January 31 due to ill health.

 

Fonterra chairman John Wilson said that Spaans' tireless contribution to the New Zealand dairy industry has been significant both inside and outside the Fonterra boardroom.


"Michael, a dairy farmer, came up through the ranks, spending time on the New Zealand Dairy Group Shareholder Council and then the Fonterra Shareholders' Council before building his governance experience outside the industry," Wilson added. "As a result, his insights and experience are invaluable, particularly on Fonterra's Milk Price Panel, Audit and Finance Committee and the Co-operative Relations Committee."


According to Fonterra, it has been agreed with Spaans that, once he is given a clean bill of health, he should consider standing again for the Fonterra Board.


Fonterra also announced that the Board has appointed Ian Farrelly as director replacing Spaans. Farrelly spent nine years as a Fonterra director until retiring in December 2016.


Wilson said that the Fonterra Constitution allowed for an appointment to fill a casual vacancy and that Farrelly's appointment will continue until an annual meeting in 2017.


"Ian is a highly qualified director with very recent and valued experience on the Board," Wilson remarked. "We are very grateful that he has agreed to continue his contribution to Fonterra."


- Fonterra

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