Wednesday 17th October 2012
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Former PricewaterhouseCoopers chairman John Shewin has been tapped as independent chairman of the Fonterra Shareholders' Fund board as the world's biggest dairy exporter targets a November launch for the units tied to its shares.
Shewin will lead a board of five, made up of professional director Pip Dunphy, former Waste Management NZ chief executive Kim Ellis, former Commonwealth Bank of Australia CEO Ralph Norris and corporate farmer Jim van der Poel.
Norris and van der Poel are Fonterra's appointees to the board though it also named the three independents including Shewin. In future, the independents will be elected by unit holders.
The five are directors of FSF Fund Management Co, the manager of the Fonterra Shareholders' Fund.
The fund expects to release its prospectus this month.
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