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 shareholder and Cambridge farmer Garry Reymer wants Fonterra to include capital structure on the agenda at the next round of farmer meetings.
Reymer believes that the governance and representation as well as capital structure are interconnected, and both are important to the survival of the co-op.
"If we go back first for a bit of history, it was common to have a dairy co-op in almost every small rural centre. When that was the case, the farmers all knew the board personally. They saw them at the footy club, church, school or wherever. They all had active discussions and farmers felt involved and connected. As the mergers took place, this was held together by better transport to larger centres and more regional co-ops with 'ward' director, so somene with a close connection to your region.
"Fonterra now has no wards, and four of the eleven directors are not even farmers (appointed by the board) and Fonterra wants to reduce the size of its board.
"To make it worse, from a farmer representation point of view only, the definition of 'farmer director' is very loose and if you are a trustee of a farming company you qualify as a farmer director; this can make that director no different from an appointed director."
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.
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