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Independent Selection Panel Members Confirmed

21 October 2016
Independent Selection Panel Members Confirmed


Fonterra has confirmed the members of its newly created Independent Selection Panel.

The three member Panel plays a critical role in Fonterra’s new Farmer Director election process that was approved by shareholder vote at a Special Meeting earlier this month.

The Panel members are: Dame Alison Paterson (Independent Panel Chair); John Spencer, CNZM (Board Appointee); and Sir John Anderson, KBE (Shareholders’ Council Appointee).

The Independent Selection Panel provides the Co-operative’s Board and Shareholders’ Council with independent opinion and assessment of Farmer Director candidates who go through the new confidential selection process.

The new selection process also includes the option for every eligible farmer in Fonterra to choose to stand outside the process and be considered alongside their fellow farmers who have been recommended by the Independent Selection Panel.

Farmers will have a choice of following the guidance of the Independent Selection Panel, or voting for any farmer who decides to stand outside this process.

Fonterra Chairman, John Wilson and Shareholders’ Council Chairman, Duncan Coull said the Board and Council had independently sought out individuals with significant experience in governance who understand the New Zealand agriculture industry, the unique nature of co-operatives and have a strong understanding of global business.

Fonterra was privileged to have attracted Panel members of such high calibre and breadth of governance experience. The Panel members have the capability and experiences to determine which candidates have the attributes and skills that the Co-operative’s Board will require in the future.

ENDS

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