"I don't have time for those who are not prepared to put a view on the table but then want to talk about it over coffee. I expect people to be totally upfront."
The new chairman, who succeeds John Wilson who last week for health reasons announced his resignation from the Fonterra board after two terms as chairman, said back in 2006 that shareholders were hard taskmasters who had high expectations for Fonterra.
"We are in a unique position as shareholders. We supply the raw products but we also supply the capital, so we have a real vested interested in this cooperative performing. For many farmers this is their only investment," Monaghan told the Herald just five years after Fonterra had been created to be a national champion from a controversial industry super-merger under special enabling legislation.
Fast forward to 2018 and Monaghan is taking the helm of a company under fire from its shareholders and the Beehive for capital losses believed to top $1 billion through its China investment strategy, its debt level and weak dividends.
Monaghan, a Wairarapa farmer with dairying interests in the South Island, has yet to speak publicly since his selection as chairman was announced last week. He's been on the Fonterra board since 2008.
In 2006 he said if he had a blood test he was confident it would "return positive for dairy politics".
His late father Jack chaired at least five dairy cooperatives in the Wairarapa in the days when dozens of dairy companies were sprinkled around the country.
In 2006, Henry van der Heyden was chairman of Fonterra.
He said Monaghan acted with integrity, had a very strong personality but "he's still got a lot to learn about the business too".
