Upcoming Retirement of FSF Management Company Directors
Market Announcement
13 June 2022
Upcoming retirement of Directors
John Shewan, the current independent chair of FSF Management Company Limited (Manager of the
Fonterra Shareholders' Fund), and independent director Kim Ellis have both advised that they will
reti re at th e Fund’ s Annual Meeting of Unit holders in November.
As indicat ed in th e Notic e of Meeting for th e Fund’ s Annual Meeting of Unit Holders last year, and in
hi s comments in the Annual Meeting, Mr Shewan had intended to retire from the Board of the
Manag er at last year’s Annual Meeting of Unit holders. However Mr Shewan had concluded that
was not an appropriate time to step down from the Board given the importance of continuity of the
independent directors of the Board of the Manager during Fonterra’s capital structure review. As
Fonterra has now made decisions on its capital structure review, and following approval by Fonterra
shareholders, Mr Shewan has confirmed his retirement.
Kim Ellis has served as an independent directo r of th e Manag er sinc e th e Fund’ s launch in 2012.
Given his length of service on the Board, Mr Ellis considers that it is now appropriate for him to
retire from the Board.
The Board has commenced a recruitment process for the two director roles.
New Manager Board Chair
The Board of the Fund has unanimously resolved to appoint Mary-Jane Daly as Chair of the Board of
th e Manager to replace John Shewan, with effect upon his retirement.
Mary-Jane was elected to the Board of the Manager in November 2020. Mary-Jane is currently Chair
of the Earthquake Commission and an Independent Director of Kiwibank and Kiwi Property Group
Limited. Previous governance roles have included Cigna Life Insurance New Zealand, Onepath Life,
Airways Corporation, Auckland Transport, and the NZ Green Building Council. Mary-Jane has a strong
background in insurance, banking and finance with experience in a variety of senior roles both in
New Zealand and the United Kingdom.
For further information contact:
Andrew Cordner
Company Secretary
FSF Management Company Limited
andrew.cordner@fonterra.com
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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