Auckland-based dairy giant Fonterra announced today that chairman John Wilson is standing down from his position with immediate effect.
Wilson is recovering from a serious health scare, has undergone a significant surgery, and will require on-going treatment.
Wilson will remain as a director of the global dairy company until the annual meeting in November, when he will retire from the Board.
Wilson has been a director at the company since 2003 and was appointed to the chair position six years ago. John Monaghan has been selected by the board as his replacement. onaghan is an experienced director and a board member since 2008.
He has taken a lead role in representing Fonterra on global trade issues and has strong networks with stakeholders both in Australia and internationally. Monaghan has also been very involved in the process to appoint a new chief executive, which he will now lead with the full involvement of the board.
In a message to farmers today, Wilson said the decision to stand down had been difficult but was in the best interests of the company.
“I have made a very good recovery and am well but will need on-going treatment. Continuing as chairman when I cannot put my full energy and attention into the role is not appropriate,” he said.
Wilson admitted that while governance roles are rewarding, they can be demanding on the individual and their family.