We are governed by the Board of Directors, which plays an important oversight role in the management and business affairs of Fonterra.
The Board of Fonterra
Fonterra is New Zealand's largest company as well as being a significant player in the global dairy industry.
Board Role & Charter
The Board has the responsibility to direct and supervise the management of the business and affairs of the co-operative.
Board Meetings
The Board meets formally at least eight times each year to conduct business.
Board Committees
The Board uses committees or working groups to facilitate more effective and efficient decision making. Committees and working groups have written terms of reference, and report on their activities to the Board.
Remuneration of Directors
The Directors' Remuneration Committee (DRC), is independent of the Board and the Shareholders' Council and is separately elected by Fonterra shareholders.
Shareholder Relations
The Board continues to promote the co-operative nature of the company and reflects this in its dealings with its supplying shareholders.
Information Disclosure
The Board is committed to providing information to shareholders and other investors in a timely manner.
Shareholders' Council
The Board has a significant and unique relationship with the Shareholders' Council, which is established under the constitution.
Ethics
Fonterra's Board is committed to the ethical conduct of our business around the world.
Audit Independence Policy
Through the Audit, Finance and Risk Committee (AFRC), the Board ensures the external auditor appointed by the Company is independent.
Governance Standards
The Board recognises the need to continue to keep its Governance Standards under review to ensure they are in line with best practice.
