Fonterra unveils divestment plan
Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
Sitting Fonterra board members Brent Goldsack and Cathy Quinn are unopposed at this year’s director elections.
However, as this is an uncontested election, under Fonterra’s board election rules, both sitting directors must gain more than 50% support of votes cast to serve another three-year term.
When nominations for the non-assessment process closed yesterday, Goldsack and Quinn were the only two candidates. Over the years all Fonterra director elections have been contested.
Fonterra shareholders can nominate themselves to contest director elections in two ways: either as independently assessed candidates or go through the non-assessment process.
Goldsack and Quinn were announced last week as the independently assessed candidates after undergoing assessment by an independent panel of agribusiness leaders.
Voting Packs, containing candidate profiles, will be mailed to eligible shareholders from Monday. Shareholders can vote online or by post from Tuesday, October 17.
Voting closes at 10.30am on Tuesday, 7 November 2023 with the results being announced later that day.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.