Data sharing initiative wins national award for saving farmers time
The work Fonterra has done with Ballance Agri-Nutrients Ltd, LIC and Ravensdown to save farmers time through better data connections has been recognised with a national award.
Chinese media say Fonterra’s two directors on its joint venture, Beingmate have expressed reservations about a new independent director approved by the board recently.
Fonterra Chinese operations head and Beingmate director Christina Zhu is quoted saying the outgoing director Liu Xiaosong had extensive experience in financial accounting and internal control.
He played an important role in corporate governance and internal auditing as the audit committee chairman.
“The company is currently faced with many complex financial, internal control and accounting issues, and has been repeatedly concerned about inquiries by the Chinese Securities Regulatory Authority.
“The company is also in a difficult business environment and faces many challenges. Therefore, it is urgent to have a person with rich financial and accounting experience – an independent director with an internal control background and experience in corporate management and/or financial accounting practices to succeed Mr Liu Xiaosong.”
The reports said that while new director Ma Juan is well educated and has an academic background, she does not have a professional accounting background or knowledge and financial audit experience.
“The Beingmate company is facing a lot of financial and internal control issues, and the independent director will also serve as a member of the audit committee.
“Although Ms Ma Juan has the qualifications for a single director, she is not suitable at this time as a candidate to replace Liu Xiaosong.”
Zhu and Priem recommended another candidate for the board but that person did not succeed.
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
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