FCG
30/10/2015 11:02
DIRECTOR
NOT PRICE SENSITIVE
REL: 1102 HRS Fonterra Co-operative Group Limited
DIRECTOR: FCG: Appointment of Independent Director to Fonterra Board
Fonterra Co-operative Group Limited announced today the appointment of a new
Independent Director Clinton Dines who will take up the Board position made
vacant when Sir Ralph Norris steps down at the Annual Meeting on 25 November.
Chairman John Wilson said world-class governance is one of the Board's top
priorities, and the Co-operative needed directors with a broad range of
talent and depth of business experience.
"The Board welcomes Mr Dines, an Australian, who has outstanding business and
governance credentials.
Mr Dines has deep experience in China, having lived and worked there for 36
years, including 21 years as a senior executive for BHP Billiton. His
expertise in managing the complexities of a large global commodity business,
and leading organisations through change and growth make him ideally
qualified to join Fonterra's Board.
"China is one of BHP's biggest markets. Taking up the role with BHP in 1988,
Mr Dines inherited a small trading business of A$20 million. During his
tenure the company experienced a sustained period of very strong growth as
China's demand for commodities accelerated dramatically.
Mr Dines is well versed in managing the impacts of global commodity price
fluctuations. Fourteen years of his time at BHP in China were in a buyers'
market where the prices were low, while the last seven years were in a boom
market.
"He has specialised in developing strategies and processes for setting up and
running investments and joint ventures in China, and overseen teams
undertaking significant change and business development in that country,"
said Mr Wilson.
"He was closely involved in one of the earliest joint ventures established in
China in 1980, and was then continuously involved in a wide range of business
ventures across a variety of industries and regions in China."
Mr Dines, who speaks fluent Mandarin, retired as President of BHP Billiton
China in 2009.
Mr Dines currently serves on the Boards of KAZ Minerals plc and Zanaga Iron
Ore Company. These are significant businesses listed on the London Stock
Exchange and AIM. In addition he is a non-executive director of Aurecon, a
professional services engineering group, North Queensland Airports, and
Griffith University.
Mr Dines and his family live in Brisbane.
The independent directors of the Manager of the Fonterra Shareholders' Fund
support Mr Dines' appointment.
-ENDS-
For further information contact:
Simon Till
Director Capital Markets
Phone: +64 21 777807
End CA:00272593 For:FCG Type:DIRECTOR Time:2015-10-30 11:02:04
