Wednesday, July 6, 2022

Fonterra Fund appointments

Fonterra has appointed five directors to the establishment board of FSF Fund Management Company Ltd, the manager of the Fonterra Shareholders’ Fund.

The independent directors are John Shewan, who is the chair, Pip Dunphy and Kim Ellis. Sir Ralph Norris and Jim van der Poel are the Fonterra-appointed directors.

Fonterra chairman Sir Henry van der Heyden said the governance of the fund at the time of its launch is likely to be closely scrutinised by farmer shareholders and potential investors.

“The appointment of these five well-known members of New Zealand’s business and dairy sectors is another important Trading Among Farmers milestone,” he said.

The initial directors of the establishment board have been appointed by Fonterra. However, in the future three directors will be elected by unit holders and two directors will be appointed by Fonterra.

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