About

Fonterra is a global dairy nutrition company owned by 10,000 farmers and their families. Read about our company and about our farmers and markets.

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Investors

Are you an investor with Fonterra? Read about our current performance with our financial results, or find information on our dividend programme.

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Careers

Read about life at Fonterra and explore our current vacancies and future career opportunities.

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Board of Directors

Our Board.

Our Board of Directors has up to 11 members - seven elected from our Shareholder base and four appointed by the Board and approved by our Shareholders at the Annual Meeting. 

The Appointed Directors are selected to ensure our Board has the appropriate skills competencies to lead our organisation effectively. The perspectives and experience they bring to Board complement the industry knowledge and other expertise provided by our Elected Directors. 

As the Elected Directors must have a shareholding interest, they will have a supplier relationship with Fonterra and generally will not be classified as independent under best practice definitions.

The Appointed Directors generally meet the NZX criteria for independence and are expected by Fonterra to maintain independence for the length of their term. All Directors comply with the legislative requirements for disclosing interests and with Fonterra's in-house Securities Code of Conduct which regulates both Directors and management in their personal dealings with Fonterra securities and those related companies. Fonterra does not have executive Directors.

The Board's role.

Our Board is responsible for leadership, direction and oversight of Fonterra. It is accountable to our Shareholders for the overall performance of the Co-operative. Specific functions of the Board include:

  • Review of the dividend policy and declaration of the interim and final dividend. 
  • Declaration of the Farmgate Milk Price and Distribution Profit.
  • Declaration of the actual Co-operative share price from the commencement of each season (the Fair Value Share price). 
  • Reviewing and approving the Group strategy and business plans. 
  • Appointing the CEO and reviewing the CEO's performance.
  • Delegating authority to management, and monitoring the exercise of that authority. 
  • Engaging in the development of the strategic plan and setting the strategy for the Group and for the major business units within the Group. 
  • Approving significant acquisitions and disposals outside management's delegated authorities.
  • Overseeing the Board Committees and the areas covered by each of those Committees.

Our Board and management team have developed systems that reflect Fonterra’s unique characteristics and requirements as a New Zealand-based co-operative.

John Monaghan

Board Responsibilities Farmer-elected Director, Chairman, Chair of the Appointments and Remuneration Committee

Term of Office Elected 2008, last re-elected 2017

John Monaghan was elected to the Fonterra Board in 2008 and became Chairman in 2018. Prior to joining the Fonterra Board, John was Chairman of the Fonterra Shareholders’ Council and the Inaugural Chair of the Governance Development Programme. He is also a Director of Centreport Limited and Centreport Properties Limited, and is a member of the Executive Board of theNew Zealand China Council.

John is a Chartered Member of the Institute of Directors. He holds a number of farming directorships and is a trustee of the Wairarapa Irrigation Trust. John has dairy farming interests in the Wairarapa and Otago regions. John has taken a lead role in representing Fonterra’s interests on global trade issues and has strong networks domestically and internationally with key stakeholders.

Clinton Dines

Board Responsibilities Appointed Director, Member of the Appointments and Remuneration Committee and the Safety and Risk Committee

Term of Office Appointed 2015

Clinton Dines was appointed to the Fonterra Board in 2015. Clinton lived and worked in China for 36 years, 21 of which as President of BHP Billiton’s China business. He has extensive experience as an executive in China and Asia businesses and has had an active career as a Non-Executive Director, currently serving on the Boards of Port of Newcastle, Sky Renewables Pty Limited and Zanaga Iron Ore.

He was Executive Chairman of Caledonia Asia from 2010 to 2013, an investment group in Asia, and is a Partner in Moreton Bay Partners, a strategic advisory firm based in Brisbane. He is an Adjunct Professor at Griffith University’s Asia Institute and is a Member of the Griffith University Council. Clinton has extensive experience as a senior executive in China and Asia businesses, including global manufacturing and commodity businesses.

BA (Modern Asian Studies, Griffith), CIM, INSEAD

Brent Goldsack

Board Responsibilities Farmer-elected Director, Chair of the Co-operative Relations Committee, Member of the Safety and Risk Committee and the Milk Price Panel

Term of Office Elected 2017

Brent Goldsack was elected to the Fonterra Board in 2017. Brent had a 25-year career in both New Zealand and abroad in various corporate advisory roles, including being a Partner at PwC for more than 12 years. Brent is a Chartered Accountant. Brent currently chairs the Board of Waitomo Group Limited and its subsidiaries. Brent serves on the Board of Canterbury Grasslands Limited.

Brent is actively involved as a shareholder of three dairy operations in the Waikato and has shareholding interests in other dairy farms with operations in both New Zealand and the United States. In addition to his strong financial skills and knowledge, Brent has particular expertise in Fonterra’s Farmgate Milk Price and the drivers of the Co-operative’s earnings.

BCA, CA

Leonie Guiney

Board Responsibilities Farmer-elected Director, Chair of the Safety and Risk Committee, Member of the Audit and Finance Committee

Term of Office Elected 2018

Leonie Guiney was elected to the Fonterra Board in 2018. Leonie previously served on the Board from 2014 to 2017. Leonie has worked in the agriculture sector for more than 25 years in a number of positions including lecturer of Dairy Production at Lincoln University, consultant on the BNZ Growth Programme for farmers and has held roles with Golden Vale Dairy Co-operative in Ireland, LIC and FarmRight South Island.

Leonie lives and farms at Fairlie in South Canterbury and is a director and shareholder of four Canterbury farms and Bobby Square Limited.

BAgrSci

Bruce Hassall

Board Responsibilities Appointed Director, Chair of the Audit and Finance Committee, Member of the Safety and Risk Committee and the Milk Price Panel and is an observer on the Appointments and Remuneration Committee

Term of Office Appointed 2017

Bruce Hassall was appointed to the Fonterra Board in 2017. Bruce is a Chartered Accountant and has had a 35-year career at PwC, including holding the position of Chief Executive Officer of the New Zealand practice from 2009 to 2016. Bruce is Chairman of The Farmers Trading Company Limited, Prolife Foods Limited and Fletcher Building Limited and serves as a director on the Board of Bank of New Zealand.

He was previously a member of the University of Auckland Business School Advisory Board and was a founding Board Member of the New Zealand China Council. Bruce has extensive experience in financial reporting information system processes, risk management, business acquisitions, capital raising and IPOs across both listed and private companies.

BCom, FCA (CAANZ)

Andy Macfarlane

Board Responsibilities Farmer-elected Director, Member of the Co-operative Relations Committee and the Appointments and Remuneration Committee

Term of Office Elected 2017

Andy Macfarlane was elected to the Fonterra Board in 2017. Andy was a farm management consultant for 38 years. He is a Councillor of Lincoln University and a Director of ANZCO. Andy is an active member of the International Farm Management Association (IFMA), Global Dairy Farmers and New Zealand Institute of Primary Industry Management (NZIPIM). Andy was previously a Director of Ngai Tahu Farming Limited. He is the Past President of the NZIPIM and chaired Deer Industry New Zealand for seven years.

Andy began farming in 1989 and lives near Ashburton. He has shareholding interests in the South Island. Andy has a strong understanding of the governance of research and development and innovation, and has a particular interest in the strategic use of technology in the dairy industry.

B.Agr.ScC

Peter McBride

Board Responsibilities Farmer-elected Director, Member of the Audit and Finance Committee, Co-operative Relations Committee and the Governance Development Programme Committee

Term of Office Elected 2018

Peter McBride was elected to the Fonterra Board in 2018. He is a member of the Zespri China Advisory Board. Peter was previously the Chairman and a Director of Zespri Group Limited and other related companies.

Peter is a Managing Director of South-East Hort Limited and subsidiaries and Ellett Beach Farms Joint Venture. He was previously a Director of the New Zealand International Business Forum and a member of the Executive Board of the New Zealand China Council. Peter has shareholding interests in the Waikato.

B. Horticulture, PG Dip Com Agribusiness

John Nicholls

Board Responsibilities Farmer-elected Director, Member of the Co-operative Relations Committee

Term of Office Elected 2018

John Nicholls was elected to the Fonterra Board in 2018. John previously served on the Fonterra Shareholders’ Council from 2009 to 2011 and is an experienced company Director. John is Chairman of MHV Water (formally Mayfield Hinds Irrigation Limited), New Zealand’s largest intergenerational irrigation co-operative, and he also serves on other local Boards.

John has a Degree in Agriculture and a Postgraduate Diploma in Agricultural Science. He has shareholding interests in the South Island, owning six dairy farms in mid Canterbury.

B.Agr, PG AgrSci

Donna Smit

Board Responsibilities Farmer-elected Director, Member of the Audit and Finance Committee and the Co-operative Relations Committee

Term of Office Elected 2016

Donna Smit was elected to the Fonterra Board in December 2016. Donna serves on the Board of the Manager of the Fonterra Shareholders’ Fund. Donna lives and farms at Edgecumbe, and has built and owns five dairy farms in Eastern Bay of Plenty and Oamaru. Donna is a Director of EastPack Limited and Kiwifruit Equities Limited and a Trustee of the Dairy Women’s Network.

Donna is a Chartered Accountant and was a company administrator at kiwifruit co-operative EastPack for 24 years. Donna’s strong focus on financial and risk management has been built through her extensive business experience and financial background, and complements her deep dairy farming experience.

FCA

Scott St John

Board Responsibilities Appointed Director, Chair of the Milk Price Panel and Member of the Audit and Finance Committee and the Safety and Risk Committee

Term of Office Appointed 2016

Scott St John was appointed to the Fonterra Board in 2016. He was the CEO of First NZ Capital (FNZC) for 15 years, stepping down from that role in early 2017. Scott has served on the Council of the University of Auckland since 2009 and was appointed Chancellor in 2017. He is a Director of Fisher and Paykel Healthcare and chairs their Audit and Risk Committee.

Scott also serves on the Board of Mercury NZ Limited and NEXT Foundation. Previous roles have included Chairman of the Securities Industries Association, serving on the Board of First NZ Capital and membership of both the Capital Markets Development Taskforce and the Financial Markets Authority Establishment Board.

B.Com, Diploma of Business