Fonterra appoints new independent director to its board

Holly Kramer will join the New Zealand dairy co-op to complement its existing expertise

New Zealand dairy co-op Fonterra will welcome Holly Kramer as an independent director on 11 May 2020.

Ms Kramer, whose appointment will need to be ratified by farmers at the annual general meeting later in the year, will take over from Simon Israel, who retired from the Fonterra Board in November 2019.

Related: Fonterra reports profit in 2020 interim results

She brings years of experience in governance, multinational enterprises, and retail businesses. In addition to her role at Fonterra, she holds a number of other governance positions, including those of an independent non-executive director at Woolworths and a deputy chair and independent non-executive director at Australia Post.

Holly Kramer
Holly Kramer will be joining the board of Fonterra

Other previous governance roles include the boards of Nine Entertainment Corporation, AMP Limited, and Telstra Clear (NZ). She also held sales, marketing or senior leadership roles at the Ford Motor Company, Telstra Corporation and Pacific Brands and was chief executive of major Australian retailer, Best & Less.

Chair John Monaghan, who has recently confirmed he would retire as director at the end of his current three-year term this November, said the appointment would complement the board’s existing expertise.

“Holly’s experience in customer-centred leadership, transformation, e-commerce, technology and multinational organisations will complement the existing collective skill set of our board,” he said.

“She has a strong record of creating shareholder value across a broad range of industries and shares our commitment to the highest standards of governance. Holly’s experience, energy and international perspective will be assets for our co-operative.”

Related: Fonterra chair confirms his decision to retire

In March the co-op reported a net profit after tax of NZ$501m (£247m), up from NZ$72m (£35m).