June 25, 2020 / 9:46 PM / 10 days ago

NZ's Fonterra names Peter McBride chairman-elect

June 26 (Reuters) - Fonterra Co-Operative Group Ltd has selected Peter McBride as its chairman-elect, the world’s largest diary exporter said on Friday.

McBride, who was elected to the board in 2018 and currently serves as a farmer-elected director, will take over from John Monaghan after the company’s annual meeting in November.

Monaghan had said last year that he would retire by rotation when his three-year term ends.

The appointment comes at a time when the dairy giant is looking to bounce back from a hit to demand and uncertainty in the global dairy market due to the coronavirus outbreak.

Reporting by Soumyajit Saha in Bengaluru; Editing by Lisa Shumaker

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