He'll take over the role in November at the co-operative's annual meeting.
He was selected by farmer directors sitting on the board.
Monaghan says the long handover will bring stability in line with Fonterra's progress made over the past two years to improve its strategy and financial results.
McBride grew up on a dairy farm near Te Aroha and runs the family farm milking 950 cows in south Waikato.
