Fonterra Announces Strategic Leadership Transition within Milk Price Panel

Effective fr om September 1, 2024, Mr. Barlass will serve as a non-voting observer, with a full transition to panel membership scheduled for September 1, 2025. He is set to succeed long-serving member Bill Donaldson, who has contributed to the Panel since 2014.

Mr. Barlass brings a wealth of experience to the role, rooted in his dual expertise in both the dairy and finance sectors. He operates two dairy farms in Rakaia, Canterbury, and transitioned back to farming in 2017 after a distinguished career in the finance industry. His previous roles include Head of Asset Management for Deutsche Bank Australia’s direct infrastructure investment business, wh ere he developed significant proficiency in asset management, governance, corporate development, and mergers and acquisitions across diverse industries. Mr. Barlass currently holds leadership positions as Chair of Electricity Ashburton Limited and serves as a Director for Christchurch International Airport Limited and Ashburton Contracting Limited.

According to Fonterra’s Constitution, the Co-operative Council has the authority to appoint up to two members to the Milk Price Panel, with at least one being independent. However, the Fonterra Board has determined that Mr. Barlass will not serve as an independent member, in alignment with the Fonterra Shareholders’ Market Rules. The Panel maintains a majority of independent members, ensuring balanced and impartial oversight.

This strategic leadership change underscores Fonterra’s commitment to integrating diverse industry expertise into its governance framework, as it continues to navigate the complexities of the global dairy market.