John Nicholls joins Fonterra's milk price panel

Fonterra has announced the appointment of director John Nicholls to the Milk Price Panel.

Nicholls replaces Leonie Guiney on the panel.

However, Fonterra's board has determined that Nicholls will not be an independent member of the panel, as defined in the Fonterra Shareholders' Market Rules.

The panel is required to have a majority of independent members, and this will continue to be the case following Nicholls' appointment.