Fonterra Co-operative Council appoints Fred Ohlsson to the Milk Price Panel

Friday 25 February 2022

Fonterra Co-operative Group has confirmed the appointment of Fred Ohlsson to the Milk Price Panel, as an appointee of the Fonterra Co-operative Council following a Director search conducted by SEQEL Partners.

Fred Ohlsson is an accomplished senior executive, having spent the majority of his career in banking in New Zealand and Australia. His last role was with the ANZ Bank, based in Melbourne, as Group Executive for the Australia Division where he was responsible for the majority of operations across ANZ Australia. Mr Ohlsson is now based back in New Zealand and provides independent consulting services across a variety of industries.

Under Fonterra’s Constitution, the Co-operative Council is entitled to appoint up to two members of the Panel, at least one of whom must be independent. The Fonterra Board has determined that Fred Ohlsson will be an independent member of the Panel, as defined in the Fonterra Shareholders' Market Rules. The Panel must comprise a majority of independent members and will continue to do so following Fred’s appointment.

Fred Ohlsson replaces Andrew Wallace, whose term on the Panel ended recently. Fred’s appointment will take effect from 23 February 2022, and we wish him every success as a member of the Panel.