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Fonterra Chairman Van Der Heyden Resigns From NZX Board

Contributor:
Fuseworks Media
Fuseworks Media
Henry van der Heyden
Henry van der Heyden

Wellington, July 24 NZPA - Fonterra chairman Henry van der Heyden has resigned as a director of stock exchange operator NZX to remove any perceptions of potential conflict of interest.

Announcing the move today, NZX chairman Andrew Harmos said neither NZX nor Mr van der Heyden believed any such conflict actually existed.

"However, the NZX board understood Mr van der Heyden's desire to erase any such perceptions, especially as Fonterra shareholders considered important matters relating to the co-operative's future capital structure."

Mr van der Heyden, who joined the NZX board in September 2005, has been Fonterra chairman since 2002.

"Over the coming years, Fonterra shareholders will be making decisions on capital structure that will be of vital importance to the co-operative and indeed to the national economy," Mr van der Heyden said.

"I want to ensure that these deliberations are untainted whatsoever by any concerns about the NZX directorship -- no matter how misplaced such concerns might be."

Mr Harmos said Mr van der Heyden helped NZX deepen its understanding of the rural sector, as the company developed strategies to make itself more relevant to agricultural segments of the economy.

NZX would continue to promote stronger links between the rural sector and capital markets.

"In this context, it would be unusual if NZX/Fonterra did not have a strong and transparent relationship across a spectrum of business matters -- not a relationship that is a source of tension or concern."

NZPA

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