Mount Maunganui based farmer Colin Armer has resigned from the Board of New Zealand’s biggest company Fonterra.
Fonterra chairman Sir Henry van der Heyden released a statement this morning announcing Colin’s resignation.
Inset: Colin Armer has resigned from Fonterra board.
Sir Henry says Colin has been on the board for six years and during that time has made a significant contribution to the progress of Fonterra.
“While we are disappointed Colin has chosen to resign we respect his decision.”
Colin and his wife Dale made it onto this year’s NBR Rich List with an estimate fortune of $200million.
The Armers ranked 49th on the annually released list, which recognises the 200 wealthiest people in New Zealand.
Raised on a Te Puke dairy farm Colin, along with Dale and two others, controls Dairy Holdings which owns 58 South Island dairy farms.
The Armers also made the news last month when their North Island company Armer Farms Ltd was fined over an effluent discharge on a Maketu farm. Armer Farms Ltd owns 13 dairy farms.
Sir Henry says director elections will be conducted in the normal course proceeding to the annual meeting later this year at which time farmer shareholders will elect a new director to fill Colin’s vacancy.