Independent Nomination Process Candidates Announced

Independent Nomination Process Candidates for Fonterra Board of Directors’ Election Announced, Self-Nomination Process Now Open

John Monaghan, Andy Macfarlane and Brent Goldsack have been announced as the Independent Nomination Process candidates for the 2017 Fonterra Farmer Directors’ Election.

The three candidates were nominated by the Fonterra Board after being recommended by the Independent Selection Panel and Nominations Committee. Their nomination was also supported by the Shareholders’ Council in accordance with the Independent Nomination Process.

As a result of the changes to Fonterra’s governance and representation approved by Shareholder vote at the Special Meeting in October 2016, the Fonterra Directors’ Election process includes two nomination options: the Independent Nomination Process and the Self-Nomination Process.

The Self-Nomination Process, where farmers can stand as a candidate for the Board with the support of 35 different Shareholders, is now open. Nominations close on Thursday, 21 September 2017.

The full list of candidates for the Fonterra Board of Directors’ Election, including the Independent Nomination Process candidates and any Self-Nomination Process candidates, will be announced on Monday, 25 September 2017.

Independent Selection Panel

The three-member Panel is comprised of Dame Alison Paterson (Independent Panel Chair); John Spencer, CNZM (Board Appointee); and Anthony (Tony) Carter (Shareholders’ Council Appointee).

The Panel plays a critical role in Fonterra’s Farmer Directors’ Election process by providing the Co-operative’s Board and Shareholders’ Council with independent opinion and assessment of Farmer Director candidates who go through the Independent Nomination process.

Voting Period, Voting Methods and Notification of Election Results

Voting Packs containing candidate profiles will be mailed to eligible shareholders on Tuesday, 10 October 2017. Shareholders can vote by internet or post, using the First Past the Post, Majority system. Voting closes at 10.30am on Tuesday, 31 October 2017, with the results being announced later that day.

ENDS

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