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BNZ chairman Waller to head up Fonterra milk price panel

Tuesday 30th November 2010

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John Waller, Bank of New Zealand chairman and a former partner at PricewaterhouseCoopers, will head up Fonterra Cooperative Group's new panel to oversee the dairy exporter's milk prices.

The cooperative set up the Milk Price Panel to audit the milk price and give Fonterra’s board assurances on its determinations. This is in preparation for share-trading among farmers.

Waller, an independent Fonterra director, is joined by fellow independent board member David Jackson, while farmer-elected John Wilson rounds out the dairy exporter's representation. Richard Punter and Paddy Boyle have been nominated by the Fonterra Shareholders' Council.

Punter is currently chairman of FloTech Group and WhisperTech, and sits on the boards of Postie Plus Group and the Motor Trade Association. Boyle is currently chairman of Electronic Navigation and Nextspace , and a director of Click Clack and Jenkins Group.

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