Nominations have opened for the 2025 Fonterra Co-operative Council, Directors’ Remuneration Committee and Fonterra Farmer Custodian Trust elections.
The Council consists of 27 Councillors, all Fonterra farmers, of whom 25 are elected across 25 Wards around New Zealand.
Council’s role is to support shareholders’ democratic control of Fonterra and to actively represent members’ interests as owners, investors and suppliers.
Its functions include fostering member engagement with their Co-operative; understanding and representing to the Board members’ interests, needs, views and expectations; receiving from and discussing with the Board reports on Fonterra’s performance; seeking Board explanation of and responsibility for Fonterra’s strategy and performance; working with the Board as joint guardians of the Co-operative Philosophy; and being the primary channel for consultation with the Board and management on decisions which have the potential to affect members’ interests in their co-operative.
This year, there are opportunities for Councillors in nine Wards.
Four Councillors have indicated that they will be retiring, and five Councillors have indicated their intention to seek re-election. Council encourages contested elections in all Wards.
The Directors’ Remuneration Committee considers the remuneration for Elected Directors and Councillors and makes recommendations to shareholders for their approval at the Annual Meeting. The Committee is independent of the Board and is made up of six farmer shareholders.
This year, there are two positions up for election. Conall Buchanan and Ellen Bartlett are retiring by rotation. Both have confirmed they will be standing for re-election.
The Fonterra Farmer Custodian Trust has three trustees. One trustee is appointed by farmer shareholders; one is appointed by the Council and one by the Board.
The trustees of the Fonterra Farmer Custodian Trust hold one Fonterra Unit issued by the manager of the Fonterra Shareholders’ Fund. Certain provisions of the Trust Deed which established the Fonterra Shareholders’ Fund cannot be amended without the approval of the Fonterra Unitholder.
The way in which the trustees of the Fonterra Farmer Custodian Trust will exercise the rights attached to the Fonterra Unit is regulated under the Fonterra Farmer Custodian Trust Deed.
The trustees of the Fonterra Farmer Custodian Trust also hold all the shares in, and are appointed as directors of, Fonterra Farmer Custodian Limited. The sole purpose of Fonterra Farmer Custodian Limited is to act as trustee of three separate trusts.
This year, there is one position up for election. Ian Brown, the trustee appointed by farmer shareholders, is retiring from the Trust.
Nominations close at midday on Friday, the 31st of October 2025.
