Fonterra chairman Henry van der Heyden has quit as a director of the stock exchange operator NZX.
Mr Van der Hayden says the move is to remove any perception of conflict between the two roles as the stock exchange helps Fonterra transform its capital structuring.
Adding to a perceived split in loyalty is the fact the NZX is soon to launch trading in milk futures.
After becoming Fonterra chairman in 2002, Mr van der Heyden joined the NZX board in September 2005.
He says the move publicly reinforces his allegiance to Fonterra.
Fonterra is reconsidering its future capital structure, following a rejection of earlier plans which included a partial float of the co-operative.
Mr van der Heyden says he won't comment about what options are back on the table while the Fonterra board and shareholders council are in talks.
Fonterra Shareholders Council chair Blue Read says Mr van der Heyden's decision to put the co-operative's interests ahead of his own is a good move and he says farmers will appreciate it.
