Director Michael Spaans Resigns from Fonterra Board

31 JANUARY 2017
DIRECTOR MICHAEL SPAANS RESIGNS FROM FONTERRA BOARD
Fonterra Co-operative Group Limited today announced that Director Michael Spaans has
stepped down from the Fonterra Board with effect from 31 January 2017 due to ill health.
Fonterra Chairman John Wilson said that Michael Spaans’ tireless contribution to the New
Zealand dairy industry has been significant both inside and outside the Fonterra boardroom.
“Michael, a dairy farmer, came up through the ranks, spending time on the New Zealand
Dairy Group Shareholder Council and then the Fonterra Shareholders’ Council before
building his governance experience outside the industry,” Mr Wilson said. “As a result, his
insights and experience are invaluable, particularly on Fonterra’s Milk Price Panel, Audit and
Finance Committee and the Co-operative Relations Committee.”
Fonterra said that it has agreed with Michael that, when he is given a clean bill of health, he
should consider standing again for the Fonterra Board.
Fonterra also announced that the Board has appointed Mr Ian Farrelly as a Director to fill
the vacancy created with Mr Spaans stepping down. Mr Farrelly spent nine years as a
Fonterra Director until retiring in December 2016.
Mr Wilson said that the Fonterra Constitution allowed for an appointment to fill a casual
vacancy and that Mr Farrelly’s appointment to fill the casual vacancy would continue until
the 2017 Annual Meeting.
“Ian is a highly qualified director with very recent and valued experience on the Board,” said
Mr Wilson. “We are very grateful that he has agreed to continue his contribution to
Fonterra”.
ENDS

For further information contact:
Simon Till
Director Capital Markets
Phone: +64 21 777 807