Shareholders Offered Leadership Development Chance

MEDIA RELEASE

23 April 2010

Fonterra Shareholders Offered Leadership Development Opportunity

Fonterra shareholders are again being offered an opportunity to develop their leadership and governance capabilities.

The Fonterra Governance Development Programme, which is entering its fifth year of operation, is seeking new applicants.

Campbell Shearer, who is chairman of the Fonterra Governance Development Committee, says the popular programme is a wonderful opportunity for Fonterra shareholders to develop the skills and capabilities that will be required to govern agribusiness organisations in New Zealand.

“The challenges and opportunities to govern organisations are developing at a rapid pace and it does take specialist skills to lead these organisations,” Mr Shearer noted.
“The Fonterra Governance Development Programme is designed to equip people with the capability to be credible leaders in their field and I’d encourage Fonterra shareholders who aspire to be leaders to sign up for the programme,” he said.

The programme was established to help address industry succession needs by creating a pool of potential future candidates who have the skills and capabilities to govern New Zealand’s largest business. The programme is a joint initiative between the Fonterra Shareholders’ Council and the Fonterra Board of Directors.

The programme is designed to give participants an insight into company directorship, governance, Fonterra’s business, leadership and learning styles. In addition to building leadership and governance skills, the programme is designed to develop participants’ ability and knowledge in areas like strategic planning and delivery, critical and reflective thinking, the application of learning and international business operations.

The programme utilises a variety of different teaching mechanisms such as residential courses, seminars and distance learning. Some components of the programme are provided by external organisations such as Massey University’s College of Business. There may also be the opportunity to take part in a market study visit to learn more about aspects of Fonterra™s domestic and international operations.

The programme is overseen by the Fonterra Governance Development Committee (GDC), which consists of two representatives of the Shareholders’ Council, two representatives of the Board of Directors and an independent governance expert.

The programme can be demanding and Mr Shearer noted that a solid commitment is required from participants.

“The programme is challenging but for people who are interested in a future governance role and who want to be more involved in the rural industry then this is an opportunity that is not to be missed,” Mr Shearer said

All Fonterra shareholders are eligible to apply for the programme. Applications for the 2010 intake officially open this month and close on Wednesday, 9 June 2010.

About the Fonterra Shareholders’ Council

The Fonterra Shareholders’ Council represents the interests of Fonterra farmers to the Board of the co-operative and plays an active role in monitoring and assessing the governance and performance of Fonterra. There are 35 Councillors who are all shareholders elected by their fellow farmers in wards across New Zealand.

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