increase font size
FONTERRA CHAIRMAN Henry van der Heyden is to step down next year.
Van der Heyden says he will ensure a smooth transition for the new chairman to take over.
His departure will mark the end of an era for Fonterra. The co-op last month appointed a new chief executive Theo Spierings to replace Andrew Ferrier, who led the co-op for eight years.
Van der Heyden says the board has been discussing leadership issues for the past two to three years.
"We felt it was appropriate for me to step down in 2012," he told the co-op's annual meeting in Whangarei last week.
Van der Heyden assured shareholders he will not take his mind off the job during the next 12 months. He noted that Ferrier left the co-op on a high note after announcing a record financial result.
"I know we are $1.50/kgMS behind last year right now, I will be putting pressure on management so that we can deliver a similar result."
Van der Heyden is the third director exiting Fonterra's board during the next 12 months. His three-year term expires at the 2012 meeting.
Greg Gent retired at the annual meeting last week. He was replaced by David MacLeod, Taranaki. Independent director John Ballard will leave in May. He will be replaced by outgoing Commonwealth Bank chief executive Ralph Norris.
Van der Heyden says Norris is available to take up the post in May
and Ballard has accepted a board request to stay
on for another six
months.
He paid tribute to Ballard who joined the board in 2006.
"He brought a valued global perspective and insights into consumer businesses based on his extensive corporate experience in Australia."
Van der Heyden says securing Norris' services was great for the co-op.
"Ralph is an outstanding New Zealander with a superb international track record at the highest levels of business."
Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
OPINION: Farmer shareholders of two of New Zealand's largest co-operatives have an important decision to make this month and what they decide could change the landscape of the dairy and meat sectors in New Zealand.
OPINION: As CEO of the Dairy Board in the 1980s I was fortunate to work with a team of experienced and capable executives who made most of the brand investments that created the international consumer business Fonterra inherited. Soprole in Chile was the largest, but there were more than 20 countries where consumer marketing companies were established and Anchor and other brands were successfully launched.
Fonterra has delivered a fifth straight year of record organic milk price for farmer suppliers.
Fonterra says favourable weather conditions supporting pasture growth is boosting milk production.
Like many manufacturers around the world, European agricultural machinery and tractor manufacturers are currently operating in a difficult market environment. But they are heading to the world’s largest agricultural machinery event in Hanover next month with a degree of cautious optimism.
Established in 2021, the John Deere Technician of the Year Awards champion the important contribution parts and service technicians make to the Australian and New Zealand agriculture, construction and forestry industries.
Beef + Lamb New Zealand (B+LNZ) is calling on farmers from all regions to take part in the final season of the Sheep Poo Study aiming to build a clearer picture of how facial eczema (FE) affects farms across New Zealand.
New Zealand is closer to eradicating bovine TB than ever before, but possums remain a threat, says Beef + Lamb New Zealand.
Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
The ACT Party says media reports that global dairy giant Nestle has withdrawn from the Dairy Methane Action Alliance shows why New Zealand needs to rethink its approach to climate.
