Fonterra Co-operative Group Limited (FCG) has announced that current Farmer Director, Peter McBride has been selected as the Co-operative's Chairman-elect by his fellow Directors. Under Fonterra's constitution, its Chairman is selected by the Board from within its pool of seven elected Farmer Directors. Mr. McBride will replace current Fonterra Chairman, John Monaghan when he retires as a Director of the Co-op at its Annual Meeting this November. Mr. Monaghan says that the early announcement of Mr. McBride as Chairman-elect is part of the Board's commitment to planned governance succession.