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.
With the agriculture sector facing more legislation around sustainable farming practices, Guy says his knowledge of “how Wellington works” will be helpful.
“I have long term relationships across the whole Parliament and also with senior officials and let’s face it, they are ones who write policy,” he told Rural News.
Guy, who retires from Parliament at next month’s general election, served as a National MP for 15 years and as Minister for Primary Industries for five years. He wants to be part of NZ’s largest company.
Last week, Guy and three others – sitting director Brent Goldsack, lawyer Cathy Quinn and corporate farmer Mike O’Connor were named as the four candidates by an independent Candidate Assessment Panel.
Quinn, who has 30 years’ experience as a commercial and corporate lawyer, narrowly missed
out on a board seat last year.
O’Connor is the majority shareholder of Spectrum Group, comprising eight farms, milking 8200 cows and producing 3.1 million kgMS.
Goldsack, a former tax and financial advisor, joined Fonterra’s board in 2017 and chairs the board co-op relations committee.
Fonterra shareholders can also self-nominate as candidates – provided they have the backing of 35 shareholders, who must sign their nomination form.
Waikato farmer Annabel Cotton has been confirmed as a candidate in the media.
Rural News understands at least one prominent Fonterra shareholder will confirm their candidacy this week.
