fbpx
Print this page
Thursday, 13 September 2018 12:38

Fonterra CEO pay trending on social media

Written by  Sudesh Kissun

Fonterra’s disastrous financial result is trending on social media today, with former chief executive Theo Spierings' pay a focal point.

Much of the criticism and shock on Twitter have been directed towards the revelation that former chief executive Theo Spierings took home $8 million in salary and bonuses — for the second year in a row.

Dave Macpherson, Hamilton describes the pay as “a rip-off”.

“Dutch Fonterra boss gets $8.1m as he leaves on the back of Fonterra’s $196m annual loss,” he tweeted.

Paul Brislen replied that he could “efficiently lose $200m for the company and I’ll do it for half!”

Sharemilker Melissa Slattery thinks there’s something wrong with the long-term incentive pay at the co-op.

“What is Fonterra doing to stop repeat for management pay?

“Grinds my gears why is CFO at the time of making those decisions still employed by Fonterra.”

Former Agriculture Minister and opposition agriculture spokesman Nathan Guy also had his say on Fonterra’s poor results.

He tweeted that the results are very disappointing. 

“The board and management will need to explain the ‘why’ & importantly what’s the go forward plan?.

“Farmers do the hard yards producing the milk & must see big improvements in performance. Regional NZ and the economy relies on a strong Fonterra.”

More like this

Fonterra posts solid results

Fonterra has delivered a solid half-year result, thanks to higher margins and sales volumes across the co-op's diversified product and category mix.

Featured

Dairy sheep and goat turmoil

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.

Hurry up and slow down!

OPINION: We have good friends from way back who had lived in one of our major cities for many years.

Editorial: Passage to India

OPINION: Even before the National-led coalition came into power, India was very much at the fore of its trade agenda.

National

Govt urged to reduce ETS units

The Climate Change Commission wants the new Government to reduce NZ Emissions Trading Scheme (ETS) auction volumes as son as…

Dairy sheep, goat woes mount

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand…

Machinery & Products

All-terrain fert spreading mode

Effluent specialists the Samson Group have developed a new double unloading system to help optimise uphill and downhill organic fertiliser…

Can-Am showcases range

Based on industry data collected by the Motor Industry Association, Can-Am is the number one side-by-side manufacturer in New Zealand.