John Monaghan with Fonterra shareholders Malcolm Piggott and Keith Holmes.
Former Fonterra Chairman John Monaghan was recognised as one of three recipients of the Outstanding Co-operative Contribution Award at the Cooperative Business New Zealand Annual Awards 2020 held in Christchurch this evening.
The Outstanding Co-operative Contribution Award recognises individuals who have contributed significantly to the success of a co-operative business or the wider co-operative sector in New Zealand over the long-term. Judges deemed that each of the 2020 finalists were highly deserving of the award and determined that all three should be acknowledged for their services to the sector.
John, who was Chairman of Fonterra until earlier this month, was nominated for the award by a group of 80 Morrinsville shareholder farmers.
John has had a long involvement in the New Zealand dairying industry and has been involved with Fonterra since its formation. He was an inaugural Fonterra Shareholders’ Councillor and became Chairman in 2004. Retiring from the council in 2007, John was then elected to the Fonterra Board of Directors in 2008.
He became Chairman in 2018 at a time when Fonterra was facing a number of challenges. John rose to the challenge. He replaced the Chief Executive, reset the co-operative’s strategy and saw Fonterra through a period of change.
Cooperative Business New Zealand Chief Executive Roz Henry says: “It is a huge credit to John that he was nominated for this award by a group of shareholders without his knowledge.
“Governors of these businesses take on significant risk and it is a tight rope walk to navigate the role of shareholder and Director.
“John is to be admired for his determination and commitment to lead Fonterra through a significant period of transition. It was a hefty responsibility and seeing the co-operative return to a position of profitability is a fantastic way to complete his tenure.”