Nestle announces succession plan for board chair
Global food company Nestle’s chair Paul Bulcke will step down at its next annual meeting in April 2026.
The sale of Fonterra and Nestlé’s Dairy Partners Americas (DPA) Brazil joint venture is complete.
Final regulatory approvals for the $240 million sale to French dairy company Lactalis have been received, Fonterra says.
The co-op says proceeds offset debt related to that business, which means there will be little cash impact on Fonterra’s earnings. Instead, there is a negative foreign currency translation reserve (FCTR) balance of approximately $70 million related to Fonterra’s ownership of the DPA Brazil asset, which will be reflected as a non-cash accounting reclassification in Fonterra’s profit and loss statement.
Fonterra owned 51% of the Brazilian JV while Nestle owned the remaining 49%.
Fonterra chief executive Miles Hurrell says when the co-op announced the sale in December 2022, it noted the sale was subject to regulatory approvals. These approvals have now been received.
“With our decision to focus on our New Zealand milk pool, the sale of DPA Brazil means we can prioritise our resources to the businesses that are core to our strategy,” says Hurrell.
On the eve of his departure from Federated Farmers board, Richard McIntyre is thanking farmers for their support and words of encouragement during his stint as a farmer advocate.
A project reducing strains and sprains on farm has won the Innovation category in the New Zealand Workplace Health and Safety Awards 2025.
Beef + Lamb New Zealand (B+LNZ), in partnership with the Ministry for Primary Industries (MPI) and other sector organisations, has launched a national survey to understand better the impact of facial eczema (FE) on farmers.
One of New Zealand's latest and largest agrivoltaics farm Te Herenga o Te Rā is delivering clean renewable energy while preserving the land's agricultural value for sheep grazing under the modules.
Global food company Nestle’s chair Paul Bulcke will step down at its next annual meeting in April 2026.
Brendan Attrill of Caiseal Trust in Taranaki has been announced as the 2025 National Ambassador for Sustainable Farming and Growing and recipient of the Gordon Stephenson Trophy at the National Sustainability Showcase at in Wellington this evening.
OPINION: Last week, Greenpeace lit up Fonterra's Auckland headquarters with 'messages from the common people' - that the sector is…
OPINION: Once upon a time the Fieldays were for real farmers, salt of the earth people who thrived on hard…