Anne Templeman-Jones will chair audit and risk committee chair of Mainland Group board.
Fonterra has named Anne Templeman-Jones chair elect of the Mainland Group’s board audit and risk committee in preparation for a possible initial public offering of its consumer business and the co-operative’s Oceania and Sri Lanka businesses.
The IPO and a trade sale are being simultaneously pursued as potential divestment options.
Fonterra chair Peter McBride said Templeman-Jones’ extensive experience in both executive and board roles across a range of sectors will be valuable to the Mainland Group board.
“Anne’s career spans the banking and financial services, consumer goods and energy sectors.”
The appointment follows the co-op’s announcement in March that Elizabeth Coutts has been appointed as chair-elect for the Mainland Group board.
Fonterra also continues to progress the trade sale process, including engaging with potential purchasers of the consumer and associated business.
It is now at the stage where some potential purchasers may preemptively seek regulatory approvals, which is a standard step ahead of any deal being agreed.
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