Fonterra chairman resigns

He will remain a Fonterra director until the cooperative’s annual meeting in November, when he will retire from the board.

Fonterra said that within the last month, Wilson has undergone a significant surgery and will require ongoing treatment.

New chair appointed

The Fonterra board has selected John Monaghan, who has been on the board since 2008, as its new chairman.

Monaghan grew up on a dairy farm and has farming interests in the Wairarapa and Otago.

During his time on the Fonterra board, Monaghan has served on multiple committees, chairing several of them.

He has taken a lead role in representing Fonterra’s interests on customer visits and global trade issues and has strong networks both domestically and internationally with key stakeholders.

Monaghan has been involved in the process to appoint a new CEO to Fonterra and will now lead the advancement of this appointment with the full involvement of the board.