(Reuters) - Milk producer Fonterra <FCG.NZ> said on Friday Chairman John Wilson has resigned from his position with immediate effect over concerns regarding his health.
Fonterra's board has selected company veteran John Monaghan as the co-operative's new chairman.
Monaghan has been on the dairy firm's board since 2008 and has played a key role in the search of a new chief executive, Fonterra said in a statement.
"Within the last month Mr Wilson has undergone a significant surgery and will require on-going treatment," it added.
Earlier this year, Fonterra had flagged that Chief Executive Theo Spierings will leave his role later this year as part of a planned succession process.
Monaghan's appointment comes at a time when global dairy prices have been depressed by increased production.
(Reporting by Aditya Soni in Bengaluru; Editing by Alison Williams/David Evans)
