Fonterra chairman elected stock exchange director

The chairman of New Zealand's biggest company, Henry van der Heyden, has been appointed a director of the New Zealand Exchange Limited (NZX).

Mr van der Heyden, who has repeatedly rejected suggestions that part of his farmer co-operative is likely to be floated, said he believed a seat on the NZX board would reflect the experience he had gained in his role with Fonterra.

He will become a director on September 6.

"We are delighted to have someone with Henry's experience in global business and strong record in governance join the board," NZX chairman Simon Allen said.

"His networks and proven record in leadership will be a valuable addition to NZX."

Mr van der Heyden said NZX approached him because of his business experience, both in New Zealand and overseas.

He became chairman of Fonterra Co-operative Group in September 2002 and has a degree in agricultural engineering from Lincoln University.

- NZPA