Fonterra chairman John Wilson has stood down from his role with immediate effect due to a health scare.
Within the past month he had major surgery and needs ongoing treatment.
He has been replaced by John Monaghan.
“Continuing as chairman when I cannot put my full energy and attention into the role is not appropriate," said Mr Wilson, who will remain a director until November's AGM.
Fonterra is New Zealand's largest company.
Earlier this year Theo Spierings stepped down as chief executive.
It posted a net $348 million loss for the six months to January 31, after writing down a Chinese investment.
The result was on revenue of $9.8 billion.
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