Colin Armer's loss a big one

Federated Farmers is saddened Colin Armer has resigned with immediate effect from the Fonterra Cooperative Group’s board.

“It was a shock,” admits Willy Leferink, Federated Farmers Dairy chairperson.

“It is sad Colin won’t see out his term to November’s annual general meeting. I thought Colin would have stuck with it for the next three or so months.

“The decision means Fonterra’s Board is losing some genuine institutional knowledge.  It seems to be going from a blended board of new blood and older hands, to a board where there will be a number of reasonably fresh directors.

“That’s not a criticism of the new directors, but experience needs to be retained in a blended board.

“It is all the more reason why Fonterra needs a Deputy-Chair.

“I guess what it does also open up is a vacancy for some farmer-shareholder fresh blood,” Mr Leferink concluded.