Bakers prefer butter, helping prices soar
Consumers around the world are willing to pay more for products containing dairy and this is driving demand for butter and cream, says Fonterra.
Shareholders Council chairman Ian Brown congratulated Wilson on his appointment.
"As a former Shareholders Council chair, John is in a unique position to understand farmers' interests and concerns and balance these against the needs of the business.
"The Council will continue to work towards solidifying a respectful working relationship with John and the board," he says.
Wilson takes over from Henry van der Heyden who steps down at the co-op's annual meeting in December.
