Sir Henry to quit as Fonterra chairman next year
PLUS: Sir Ralph Norris to join Fonterra board in May.
Fonterra's Sir Henry van der Heyden will stand down as chairman at the diary giant's annual meeting next year.
The move was announced at the co-operative's annual meeting in Whangarei today.
Sir Henry said the board began the process to appoint a new CEO and identify the next chairman two years ago.
“I stood for another term because it was important we had stability through the transition to a new CEO,” said Sir Henry. “That has gone very smoothly and a year from now our new CEO, Theo Spierings, will be into his second year."
He declined to comment further on Fonterra's transition plans saying it was a big year ahead but would be business as usual.
Sir Henry has been a Fonterra director since it was formed 10 years ago, and chairman since 2002.
The meeting also heard news that Sir Ralph Norris will become an appointed director on the co-operative’s board next year.
Sir Ralph is soon to retire after six years as chief executive of the Commonwealth Bank of Australia. Prior to this, he led the turnaround of Air New Zealand and earlier in his career headed ASB Bank" Sir Henry said.
“Due to other commitments, he is not able to become a director until May 2012. We have asked John Ballard – who was due to retire at today’s annual meeting – to remain a director for another six months, and he has agreed to do so.”
NBR staff
Thu, 17 Nov 2011
Thu, 17 Nov 2011
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Sir Henry to quit as Fonterra chairman next year
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