Federated Farmers dairy chair Willy Leferink is lamenting the loss of Colin Armour from Fonterra.
Armour resigned his position from the dairy giant’s board of directors on Wednesday, after what’s believed to have been a failed bid to take over as chairman from Sir Henry van der Heyden.
Former shareholders’ council director John Wilson has been named as chairman elect.
Leferink says Armour’s departure leaves a huge gap in the makeup of Fonterra.
“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,” he says.
Leferink says it might be time for the co-op to consider changing the structure of the company’s hierarchy.
“It is all the more reason why Fonterra needs a deputy chair,” he says.
John Wilson will take over as chair, pending his re-election to Fonterra’s board at the company’s annual general meeting in November.