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Shareholders’ Council Seeks New Milk Commissioner

22 March 2004

Shareholders’ Council Seeks New Milk Commissioner

Fonterra’s Shareholders’ Council will be appointing a new Milk Commissioner following the resignation of incumbent, retired Judge Peter Trapski.

“This is a pivotal appointment that Council makes on behalf of Fonterra’s 12,000 shareholders,” Council Chair Tony O’Boyle said today.

“The Milk Commissioner’s role is extremely important. It gives our co-operative’s owners access to an independent person to investigate their complaints or disputes with the company that have not been resolved using the internal procedures.”

“This person will be working with New Zealand’s largest commercial enterprise. They will need to be agile in their understanding of the benefits and risks Fonterra’s co-operative structure has for our farmers, as supplying shareholders, and for the company”, Mr O’Boyle said. In making the appointment, Council is required to consult with the Minister of Agriculture.

The Milk Commissioner’s key functions, as determined by Fonterra’s Constitution, are to:

consider Fonterra shareholders’ complaints or disputes

facilitate the settlement, resolution or withdrawal of complaints

regularly report to the Fonterra Board and Shareholders’ Council on the status and outcome of all referred concerns and complaints.

Council expects to have appointed the Milk Commissioner by the beginning of the new season in June.

Ends

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