Fonterra FY26 Results: $9.69 Milk Price, $3.4bn Profit
Fonterra has unveiled its annual results for the 2026 financial year, posting $27 billion in revenue and close to $20 billion returned to New Zealand farmer owners and unit holders.
Spaans died last Monday (November 20) of cancer.
A Te Aroha dairy farmer, Spaans joined the DairyNZ board in 2008 and became chair in November 2015. He was a director of Fonterra from 2013 until January 2017 when illness forced early retirement. But he remained a director of ASB and Shoof International, and kept his farming interests in Canterbury, Chile, the US and his home farm.
DairyNZ chief executive Dr Tim Mackle says Spaans was dedicated to DairyNZ and even when ill made an effort to add value to the organisation.
“He was often quoted as saying how vital DairyNZ is in acting in the best interests of farmers, and the DairyNZ family will miss him.
“Our deep sympathies lie with his family, especially his wife Kristina, who has also dedicated her past nine years to us.”
Mackle says Spaans had a presence, and not just because of his 6ft 9in height; he was a thoughtful, considered man passionate about farming and dedicated to his wife Kristina and three children now aged 16, 20 and 22.
DairyNZ acting chair Barry Harris, says, “Michael will be greatly missed by the board, our staff, our farmers and the wider Waikato community.
“His passion and knowledge of the sector, and dedication to improving outcomes for dairy farming profitability and sustainability are well known.
“We will miss his thoughtful debating and farmer-first approach to investment, his involvement with the dairy leaders group, his focus as chair of the Waikato Dairy Leaders Group and the group’s desire to improve the state of the Waikato River, and support for the Healthy Rivers plan in particular.”
Growing up on a family farm at Tauhei, near Morrinsville, Spaans attended Mangateparu School, Morrinsville Intermediate and Morrinsville College. A keen basketballer as a young man, Spaans started farming life in Te Aroha as a young sharemilker. He later took over his parents’ farm at Manawaru, living there with his family until his death.
He started in governance about the time Fonterra was formed, with the NZ Dairy Group shareholders’ council, and became the Te Aroha ward rep when the council and company became part of Fonterra. He has held many governance positions, dedicating his life to improving farming in NZ.
Late last week DairyNZ appointed Waikato farmer Jim van der Poel as its new board chairman.
