Farmgate Milk Prices
Fonterra calculates a Farmgate Milk Price using independently approved methodology.
The Fonterra Shareholders’ Fund (Fund) is a registered managed investment scheme under the Financial Markets Conduct Act 2013.
Units are listed on the NZX Main Board and on the ASX, and are able to be freely bought and sold in the same way as any other listed security.
Outside investors who are not allowed to hold shares in Fonterra are able to invest in units in the Fund which gives them access to economic rights (such as distributions and capital movements), similar to those of a share.
Review the 2019 Fonterra Shareholders' Fund Annual Report.
John Shewan was appointed chairman of the FSF board in November 2012.
He is an independent director, and in addition to FSF currently serves on the boards of Munich Reinsurance Australasia, China Construction Bank and the Wellington Regional Stadium Trust, which he chairs.
He is also an Adjunct Professor in the Business School at Victoria University.
Pip Dunphy has worked as a non-executive director for the last 10 years in a variety of different industries and companies.
Pip currently chairs the Boards of First Gas Limited and associated companies and is deputy chair of Abano Healthcare Group Limited and Transpower New Zealand Limited. She was previously a member of the Boards of Chubb Insurance NZ Limited and NZ Superannuation Fund.
Kim Ellis was the Chief Executive Officer of listed company Waste Management NZ for 13 years, until its sale in 2006.
Kim currently chairs the Boards of New Zealand Social Infrastructure Fund, Turner Family’s Sleepyhead Group Limited and Metlife Care Limited.
Kim also holds directorships in Freightways, Ballance Agri-Nutrients and the Port of Tauranga.
Board Responsibilities Farmer-elected Director, Member of the Co-operative Relations Committee and the People and Culture 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 Ngai Tahu Farming and 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). 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.
Andy 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.Sc
Donna was appointed to the Fonterra Board in 2016 and serves on the Board of the Manager of the Fonterra Shareholders’ Fund.
Farmer-elected Director, Member of the Audit and Finance Committee and the Co-operative Relations Committee.
Donna Smit lives and farms at Edgecumbe, and has built and owns seven dairy farms in Eastern Bay of Plenty and Oamaru. Donna is a Director of 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. CA
Fonterra calculates a Farmgate Milk Price using independently approved methodology.