New chairman for Fonterra

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Fonterra says chairman John Wilson has stood down with immediate effect as he recovers from a recent serious health scare.

Within the last month Mr Wilson has undergone a significant surgery and will require on-going treatment. He will remain a Fonterra director until the co-operative’s annual meeting in November, when he will retire from the board.

The Fonterra Board has selected John Monaghan as the co-operative’s new chairman.

Mr Monaghan is an experienced director and has been on the Fonterra board since 2008. He grew up on a dairy farm and has current farming interests in the Wairarapa and Otago.

During his time on the Fonterra Board Mr Monaghan has served on multiple committees, chairing several of them.

He has taken a lead role in representing Fonterra’s interests on customer visits and global trade issues and has strong networks both domestically and internationally with key stakeholders.

Mr Wilson said the decision to stand down as chair had been difficult but was ultimately in the best interests of the co-operative.

“I have made a very good recovery and am well but will need on-going treatment.”