A Fonterra shareholders' council spokesman is downplaying the sudden retirement of its chairman and his deputy today.Council communications manager Mark Reynolds slipped out of a regular monthly meeting today to prepare a statement that chairman Blue Read
A Fonterra shareholders’ council spokesman is downplaying the sudden retirement of its chairman and his deputy today.
Council communications manager Mark Reynolds slipped out of a regular monthly meeting today to prepare a statement that chairman Blue Read and deputy chairman Campbell Shearer had quit their posts.
Mr Read remains a member of the shareholders’ council board, however, Mr Reynolds said he had signalled he would step down prior to the regularly annual rotation elections in November.
Mr Read was unavailable for comment and was expected to be in today’s meeting until late this afternoon.
However, Mr Reynolds said the lead up to the successful vote for Fonterra’s Trading Among Farmers took up an enormous amount of time for the pair.
He said July was about the normal time for the council to elect its executive team.
It was not clear if the pair’s decision was based on a lack of support expressed at the meeting today.
Mr Read was replaced with fellow council member Simon Couper, who is a six-year veteran.
Ian Brown, a member since 2006, replaced Mr Shearer.
