Fonterra advances consumer divestment, names audit chair

Fonterra (NZX:FSF) is progressing its divestment strategy for its global Consumer business and integrated businesses in Fonterra Oceania and Sri Lanka. The company is exploring both a trade sale and a potential initial public offering (IPO). As part of preparations for a possible IPO, Fonterra has appointed Anne Templeman-Jones as Chair-elect of the Audit and Risk Committee for the Mainland Group Board. Fonterra Chair Peter McBride highlighted Templeman-Jones' extensive experience across various sectors as valuable to the Mainland Group Board. The company is also engaging with potential purchasers in the trade sale process, noting that some parties may be seeking regulatory approvals preemptively.