Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Change Of Directors On Fonterra Board

18 April 2013
Change Of Directors On Fonterra Board
Fonterra Co-operative Group Limited announced today the appointment of a new Director, Simon Israel, following the retirement of Ralph Waters.

Chairman John Wilson said the Board welcomed Mr Israel, a Singaporean who has exceptional governance, consumer and wider Asian business experience.

“Simon is based in Singapore and has worked in Asia for many years. He has significant business credentials in Asia and in consumer and investment businesses. He will bring to the Board invaluable knowledge and insights as Fonterra pursues its business strategy, particularly with its emphasis on emerging markets,” said Mr Wilson.

Mr Israel is currently chairman of Singapore Telecommunications and a director of Capitaland, one of Asia’s largest real estate companies with core markets in Singapore and China.

He was an executive director at Temasek Holdings for six years, and from 2010-2011 was executive director and president.

He has previously been involved with some of the best known fast moving consumer goods companies as an executive or Board director, including ten years with French dairy company Group Danone where he led building their business across the Asia region, especially in China.

The Board of the Manager of the Shareholders’ Fund supports Mr Israel’s appointment.

Commenting on Mr Waters stepping down, Mr Wilson said: “During his six and half years on the Fonterra Board, Ralph made a very significant contribution to the Co-operative.

“Ralph had agreed to remain on the Fonterra Board through the implementation of Trading Among Farmers to ensure stability, despite his other significant commitments, and we owe him a debt of gratitude for that.

“His vast experience as both a chief executive and director meant he brought valuable experience and knowledge to our Board.

“Ralph is a very clear thinking commercial director who developed a strong affinity for our Co-operative.

“The Board greatly valued his contribution and will miss his experience and commitment,” said Mr Wilson.

Mr Waters will be stepping down immediately, with Mr Israel to join the Board from 1 May.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Stats: Auckland’s Population Falls For The First Time
In the wake of the COVID-19 pandemic, New Zealand’s population growth slowed down with Auckland recording a population decline for the first time ever, Stats NZ said today. “New Zealand saw slowing population growth in all regions... More>>

BusinessNZ: Third Snapshot Report Reveals $9.5 Billion Business Investment In Climate Action

Signatories to the Climate Leaders Coalition have committed to invest $9.5 billion over the next five years to reduce emissions from their businesses, as revealed in their third anniversary snapshot report released today... More>>

Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>

Retail NZ: Some Good News In COVID Announcements, But Firm Dates Needed

Retail NZ is welcoming news that the Government is increasing financial support for businesses in light of the ongoing COVID-19 lockdown, and that retail will be able to open at all stages of the new “Covid Protection Framework... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>

Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>