Former PriceWaterhouseCoopers chairman John Shewan has been appointed chairman of the establishment board set up for the introduction of the new Fonterra Shareholders' Fund, which is expected to be launched before the year's end.
Shewan, an independent director on the board, will be joined by Pip Dunphy (independent), Kim Ellis (independent), Sir Ralph Norris (Fonterra-appointed) and Jim van der Poel (Fonterra-appointed) on the establishment board of FSF Fund Management Co, which will form part of the dairy co-operative's Trading Among Farmers (TAF) share trading scheme.
A prospectus for the fund is expected by late this month, and the scheme is expected to be launched in November.
There are two main components to the scheme - the Fonterra Shareholders' Market and the Fonterra Shareholders' Fund.
The shareholders' market will be available only to farmers and the shareholders' fund will be open to both farmers and the investing public.