Roadley Pays Tribute To Gerard Lynch

Monday 20 May 2002 For Immediate Release

Roadley Pays Tribute To Gerard Lynch

Fonterra Chairman John Roadley has paid tribute to outgoing director Gerard Lynch and welcomed incoming director Jim van der Poel to the board.

“Gerard has played an important role as a director of Global Dairy Company and Fonterra in bringing our industry together over the last eighteen months. His outstanding contribution to the future of dairying in New Zealand will not be forgotten and I thank him for it on behalf of the board,” Mr Roadley said.

“At the same time, all directors offer Jim our warmest congratulations and we will be offering him all the support he needs so that he can play a full role on the board from day one.”

Mr Roadley said he was pleased shareholders had opted for substantial stability on the board by re-electing two directors, Greg Gent and Earl Rattray. “Greg and Earl have offered much to the industry in the past and will continue to in the future.”

Board election results were announced this morning by Shareholders’ Council Chairman John Wilson. The elections, held under the STV voting system, saw 75 percent of shareholders who voted having their first preference elected, and over 97 percent of shareholders who voted having one of their first three preferences elected to the board.

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