Fonterra director Scott St John retiring

Fonterra director Scott St John will retire from the company's board on 31 March 2024.

St John, who has been an independent director for seven years, made the decision due to his workload and increased governance commitments.

Fonterra chairman Peter McBride thanked St John for his contributions and said he brought valuable knowledge of financial markets and a passion for innovation.

The company will now begin the search process for a replacement director, and shareholders will have the opportunity to ratify the appointment at the 2024 annual meeting.

St John is currently the chair of Fisher and Paykel Healthcare and serves on the boards of ANZ Bank New Zealand, Mercury NZ, and NEXT Foundation.