Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
Kramer is based in New South Wales and has extensive governance, multinational, and retail business experience. She joins the co-op board on May 11.
She is deputy chair of Australian Post and a director on the board of major retailer Woolworths.
Kramer has also held governance roles on the boards of Nine Entertainment Corporation, AMP Limited, and Telstra Clear (NZ).
During her management career, Kramer held sales, marketing or senior leadership roles at the Ford Motor Company, Telstra Corporation and Pacific Brands. She was chief executive of major Australian retailer, Best & Less.
Fonterra chairman John Monaghan says the cooperative’s board was pleased to welcome Kramer with her broad governance experience.
“Holly’s experience in customer-centred leadership, transformation, e-commerce, technology and multinational organisations will complement the existing collective skill set of our board.
“She has a strong record of creating shareholder value across a broad range of industries and shares our commitment to the highest standards of governance.
“Holly’s experience, energy and international perspective will be assets for our co-operative.”
Kramer fills the vacancy left by Simon Israel when he retired from the Fonterra board in November last year. Farmers will be asked to ratify her appointment as part of voting at this year’s annual meeting.
