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.
Fonterra and its former chief financial officer Neil Beaumont mutually agreed to end his employment last month.
The co-op also confirmed that Beaumont's shock departure was not in any way linked to the co-op's financial performance.
He left after just nine months at the co-op, raising shareholder questions.
Fonterra chief executive Miles Hurrell told the co-op's annual meeting last week that the terms of Beaumont's exit are confidential.
"While the terms of Neil's exit are confidential, I can confirm that his departure was mutually agreed by both Fonterra and Neil and was not in any way linked to the co-op's financial performance.
"While he was with us Neil created some real momentum in terms of how we set and achieve out goals for 2030, including the Resource Allocation Framework, two additional efficiency metrics and cost reduction targets we have added to our performance framework.
"I am determined that this momentum will continue."
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.
OPINION: Scientists claim to have found a new way to make a substitute for cow's milk that could have a…
OPINION: The Irish have come up with a novel way to measure cow belching, which is said to account for…