New Chairman For Fonterra Shareholders’ Council

New Chairman For Fonterra Shareholders’ Council

Blue Read has been elected Chairman of the Fonterra Shareholders’ Council.

Mr Read, a Taranaki farmer, has been a Shareholders’ Councillor since 2001 and was Deputy Chair for four years.

A member of the Council Leadership Team, Mr Read has served Council as a member of the Performance and Supplier Relations committees, a Council observer on the Fair Value Share Review Committee and most recently as Chair of the Governance and Ethics Committee.

In 2005 he led a review resulting in the introduction of the Candidate Assessment Panel for the Fonterra Director Elections.

Mr Read said: “I’m looking forward to working together with the committed Council team to represent shareholders’ interests during what will be an unprecedented year for our co-operative.

“While the capital structure review is the most visible item on the co-operative’s agenda, performance monitoring, shareholder representation and governance development remain equal priorities for the Council.”

Mr Read takes up his new role on 22 March 2007. He replaces John Monaghan, who retires after three years as Chairman.

Also this week Philippa Newlove, former Fonterra Milk Supply Share Registrar, joins Council as General Manager.

ENDS

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