Federated Farmers congratulates John Wilson for being named Fonterra Cooperative Group Chairman-elect.
“John may be stepping into big shoes but he is ably equipped to do so,” says Willy Leferink, Federated Farmers Dairy chair.
“John is an immensely intelligent and capable farmer with that all-important institutional knowledge of where Fonterra has come from. Since he has been on the board, Fonterra has gone from generating $11.8 billion in revenue to around $20 billion today.
“As Sir Henry van der Heyden well knows, being the chairman of Fonterra puts you in the spotlight locally and internationally.
“Federated Farmers strongly hopes John will put in place a clear succession pathway by creating a deputy chair. A lack of board succession is a strategic weakness given Fonterra is a team made up of farmers, staff, customers and suppliers.
“John will be in charge of taking the world’s fourth largest dairy company forward in its second decade of life. This includes delivering to shareholders and unit holders, everything promised from Trading Among Farmers (TAF) and the strategy refresh.
“The immediate priority for John, during the transition phase, is to put to bed Fonterra’s constitution in November so we can all move forward.
“Federated Farmers recognises the urgent need to get this sorted as there is a sword of Damocles hanging over the cooperative in the form of 2010’s ‘B’ constitution.
“Federated Farmers Dairy executive looks forward to meeting John soon, in his Chairman-elect capacity,” Mr Leferink concluded.