Fonterra launches $1500 on-farm funding for eligible farmers
Over 85% of Fonterra farmer suppliers will be eligible for customer funding up to $1,500 for solutions designed to drive on-farm efficiency gains and reduce emissions intensity.
In the article headed: ‘Chinese whispers in Beingmate boardroom’ Dairy News reported that Beingmate founder and cornerstone shareholder Sam Xie had decided, last month, to take over as chief executive of the company and his return – after a seven-year hiatus – is triggering a power struggle and rocking the board.
The article pointed out the relationship between Xie and Fonterra chief executive Theo Spierings remains frayed, hindering the two stakeholders in their efforts to plan amicably to salvage the company.
However, a Fonterra spokesman says Xie is not the chief executive of Beingmate Baby and Food so the observations about the impact this will have on Fonterra are completely without basis.
He says, in fact, that Xie has come back as chief executive of the parent company Beingmate and not Being Baby and Food – which is “an entirely separate company”.
“As such, the comments about Sam being back at the helm – and Fonterra struggling to have influence, or turn around the business as a result – are simply incorrect,” Fonterra claims.
