Survey shows most Fonterra farmers plan to use capital return for debt reduction
A large slice of the $3.2 billion proposed capital return for Fonterra farmer shareholders could end up with the banks.
Wilson will take up the role of chairman when Henry van der Heyden stands down as chairman at the cooperative's annual meeting in December.
Van der Heyden says Wilson brings lengthy experience in the dairy industry and has been on the board since 2003.
Wilson is a previous chairman of the Fonterra Shareholders Council. He lives on his family dairy farm near Te Awamutu and also manages a dairy farming business in South Canterbury. He is the chairman of South Auckland Independent Testing Society Ltd and a director of Turner & Growers Ltd.
"Over the past two years the board has been working through a considered and disciplined process to appoint a chairman elect and ensure the succession plan we have is in the best interest of the cooperative," says van der Heyden.
"John and I will work together over the next few months to assist with a smooth transition to provide continuity for the cooperative."
