Fonterra Co-operative Group, a leading dairy cooperative in New Zealand, announces the appointment of Andrew Barlass to its Milk Price Panel, effective September 2024. Barlass will transition to full panel membership in 2025, succeeding Bill Donaldson. This move highlights Fonterra’s commitment to bringing diverse industry expertise into its governance.
Fonterra Co-operative Group, a leading global dairy cooperative based in New Zealand, has announced a strategic leadership transition within its Milk Price Panel. Effective from September 1, 2024, Andrew Barlass will join the Panel as a non-voting observer, with a full transition to panel membership scheduled for September 1, 2025. He is set to replace Bill Donaldson, a long-serving member who has been with the Panel since 2014.
Strategic Leadership Transition
Andrew Barlass has been appointed to the Milk Price Panel, representing the Fonterra Co-operative Council. He brings extensive experience in both the dairy and finance sectors. Currently operating two dairy farms in Rakaia, Canterbury, Barlass returned to farming in 2017 after a successful career in finance. His experience includes a prominent role as Head of Asset Management for Deutsche Bank Australia’s direct infrastructure investment business. In this capacity, he gained substantial expertise in asset management, governance, corporate development, and mergers and acquisitions across various industries.
Barlass also holds key leadership positions, including Chair of Electricity Ashburton Limited, and serves as a Director for Christchurch International Airport Limited and Ashburton Contracting Limited. His diverse background is expected to enhance the Panel’s capability to navigate the complexities of the global dairy market.
Fonterra’s Governance and Strategic Direction
Under Fonterra’s Constitution, the Co-operative Council can appoint up to two members to the Milk Price Panel, with at least one member required to be independent. However, the Fonterra Board has confirmed that Mr. Barlass will not serve as an independent member, in accordance with the Fonterra Shareholders’ Market Rules. The Milk Price Panel will continue to have a majority of independent members, maintaining a balanced and impartial oversight.
This leadership transition reflects Fonterra’s ongoing commitment to integrating a broad range of industry expertise within its governance structure. As the cooperative faces the challenges and opportunities of the global dairy sector, the inclusion of diverse perspectives is seen as vital to its strategic growth and stability.
The appointment of Andrew Barlass is indicative of Fonterra’s proactive approach to governance, ensuring the Milk Price Panel remains robust and adaptable to changing market dynamics.
