Van der Heyden to stay on Fonterra board, Ralph Waters’ term extended
Sept. 27 (BusinessDesk) - Henry van der Heyden will stay on the board of Fonterra Cooperative Group after his term ends as chairman in December and Ralph Waters will have his term extended as the dairy company introduces its Trading Among Farmers scheme.
Van der Heyden will stay on the board as a farmer-elected director for the first part of 2013 and Waters’ tenure would continue for up to six months beyond the AGM in December chairman-elect John Wilson said.
“As we move ahead on the implementation of TAF it is important the cooperative has continuity and experience around the board table,” Wilson said in a statement. “As a result both Henry and Ralph have agreed to stay on until after TAF is up and running.”
Waters’ extended term needs to be ratified by farmer shareholders at the AGM while van der Heyden would remain on as part of his normal farmer-elected term which runs to the annual meeting in 2013, though he is likely to leave before then.
Fonterra hopes to have TAF in place by the end of November.