BUSINESSDESK: Sir Henry van der Heyden will remain on the board of Fonterra after he steps down as chairman in December and Ralph Waters will have his term extended as the dairy company introduces its Trading Among Farmers scheme.
Sir Henry will stay on the board as a farmer-elected director for the first part of 2013 and Mr Waters' tenure would continue for up to six months beyond the AGM in December, chairman-elect John Wilson says.
"As we move ahead on the implementation of TAF it is important the cooperative has continuity and experience around the board table," he says. "As a result, Henry and Ralph have agreed to stay on until after TAF is up and running."
Mr Waters' extended term needs to be ratified by farmer shareholders at the AGM, while Sir Henry will remain on as part of his normal farmer-elected term which runs to the annual meeting in 2013, though he is likely to leave before then.
Fonterra hopes to have TAF in place by the end of November.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Who are the winners and losers in Labour's re-shuffle? Rob Hosking explains
- Head-to-head: Federated Farmers director Katie Milne and SAFE executive director Hans kriek debate dairy industry's treatment of bobby calves
- Full Flavour managing director Jesse Archer says Ultra Fast Fibre gave him the "two fingered salute"
- Sally Lindsay and Chris Hutching talk about the latest in property news in Property Talk
- Keep Our Assets Murray Horton on Christchurch Council asset sales