Feds make case for rural bank lending probe
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.
Federated Farmers says John Wilson is the right man to lead Fonterra.
"John may be stepping into big shoes but he is ably equipped to do so," says Federated Farmers Dairy chairman Willy Leferink. Wilson was today appointed chairman elect and takes over from Henry van der Heyden in December.
"John is an immensely intelligent and capable farmer with that all-important institutional knowledge of where Fonterra has come from. Since he has been on the board, Fonterra has gone from generating $11.8 billion in revenue to around $20 billion today."
Being the chairman of Fonterra puts you in the spotlight locally and internationally, says Leferink.
"Federated Farmers strongly hopes John will put in place a clear succession pathway by creating a deputy chair. A lack of board succession is a strategic weakness given Fonterra is a team made up of farmers, staff, customers and suppliers.
"John will be in charge of taking the world's fourth largest dairy company forward in its second decade of life. This includes delivering to shareholders and unit holders, everything promised from Trading Among Farmers (TAF) and the strategy refresh.
"The immediate priority for John, during the transition phase, is to put to bed Fonterra's constitution in November so we can all move forward."
Leferink says Feds executives look forward to meeting Wilson soon.
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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