Fonterra adds new director to board

New Zealand dairy giant Fonterra Co-operative has announced the appointment of a new director, Simon Israel, following the retirement of Ralph Waters. Chairman John Wilson says the board welcomed Israel, a Singaporean. “Simon is based in Singapore and has worked in Asia for many years. He has significant business credentials in Asia and in consumer and investment businesses. He will bring to the board invaluable knowledge and insights as Fonterra pursues its business strategy, particularly with its emphasis on emerging markets,” says Wilson.

Israel is currently chairman of Singapore Telecommunications and a director of Capitaland, one of Asia’s largest real estate companies with core markets in Singapore and China. He was an executive director at Temasek Holdings for six years, and from 2010-2011 was executive director and president. He has previously been involved with some of the best known fast moving consumer goods companies as an executive or board director, including ten years with French dairy company Group Danone where he led building its business across the Asia region, especially in China.

He will begin his term from 1 May.