Friday, 28 September 2012 15:16

Move provides ‘stability’

Written by Pamela Tipa

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Fonterra Shareholders' Council chair, Ian Brown says the decision by the Fonterra Board of Directors to retain the services of Henry van der Heyden and Ralph Waters into 2013 would provide stability for the introduction of Trading Among Farmers (TAF).

Brown expressed confidence in the board's governance structure and says retaining van der Heyden and Waters was a practical move particularly as at least one new director would be voted to the board in December.

"The decision is important to ensure continuity within our cooperative as we begin operating in a post-TAF landscape.

"Both Sir Henry and Mr Waters will have signed their name to the TAF prospectus and the council expects that they would stand behind it and remain to see the launch of TAF through."

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