Wednesday, 30 April 2025 09:55

Fonterra names Templeman-Jones to Mainland Group board amid divestment

Written by  Staff Reporters
Fonterra is actively undertaking a dual-track process, pursuing both a trade sale and initial public offering (IPO) as potential divestment options. Fonterra is actively undertaking a dual-track process, pursuing both a trade sale and initial public offering (IPO) as potential divestment options.

As part of preparing for a potential IPO in relation to the divestment process for its global Consumer business and integrated businesses Fonterra Oceania and Sri Lanka, Fonterra has named Anne Templeman-Jones as chair-elect of the Audit and Risk Committee for the Mainland Group board.

Fonterra is actively undertaking a dual-track process, pursuing both a trade sale and initial public offering (IPO) as potential divestment options.

Fonterra chair Peter McBride says Anne's extensive experience in both executive and board roles across a range of sectors will be valuable to the Mainland Group board.

"Anne's career spans the banking and financial services, consumer goods and energy sectors. She has spent 25 years as a banking executive in global roles, and her governance roles include nine years with the CBA Group, including six as chair of the Group Audit Committee, two years as chair of Blackmores Group, and seven years on the board of Worley Limited, including five years as chair of the Audit and Risk Committee," says McBride.

This appointment follows the co-op's announcement in March that Elizabeth (Liz) Coutts ONZM has been elected as chair-elect for the Mainland Group board.

Fonterra says it also continues to progress the trade sale process, including engaging with potential purchasers of the Consumer and associated business.

The co-op says that it is now at the stage where some potential purchasers may pre-emptively seek regulatory approvals, which is a standard step ahead of any deal being agreed.

More like this

Aussie farmers get A$8.60/kgMS as opening milk price

Australian dairy farmers supplying Fonterra are getting an opening weighted average milk price of A$8.60/kgMS for the new season or around NZ$9.26/kgMS -  NZ74c less than New Zealand suppliers, based on the current exchange rate.

Featured

LIC Space folds for good

Farmer co-operative LIC has closed its satellite-backed pasture measurement platform – Space.

Editorial: Time for common sense

OPINION: The case of four Canterbury high country stations facing costly and complex consent hearing processes highlights the dilemma facing the farming sector as the country transitions into a replacement for the Resource Management Act (RMA).

National

DairyNZ Farmers Forum underway

Over 300 farmers and rural professionals have gathered in Hamilton for the first DairyNZ Farmers Forum for this year.

Machinery & Products

Shearing legend hooked on CanAm

Sir David Fagan, world-renowned competitive sheep shearer with 642 shearing titles worldwide and a knighthood to his name, now runs…

50 years of tractor pull

This year, the Fieldays Tractor Pull, in association with PTS Logistics, mark a major milestone – 50 years of crowd-thrilling…

The Wrangler's birthday bash

It's the Wrangler Limited’s 30th birthday and to celebrate the milestone a prototype of the E Series Wrangler - a…

» Latest Print Issues Online

Milking It

Free speech

OPINION: The Free Speech Union is taking this one too far.

Drug survey

OPINION: New national data from The Drug Detection Agency (TDDA), a leading workplace drug tester, shows methamphetamine (meth) use is…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter