fbpx
Print this page
Wednesday, 25 November 2015 16:38

Fonterra farmers want smaller board - Wilson

Written by 
John Wilson and Theo Spierings. John Wilson and Theo Spierings.

Fonterra farmers want a smaller board, says co-op chairman John Wilson.

Wilson says that's the message he got from taking part in farmer meetings around the country during the director election campaign.

He says Fonterra board and Shareholders Council will soon embark on a major consultation process with shareholders

"We will have a discussion on the capability of the board and the mix between elected and appointed directors," says Wilson.

He says a lot of ground work has been done over the past three years.

The review committee will be made up of board and council members; outside consultants may be engaged as part of the review.

A discussion document will be released January; a special shareholders meeting will be called around June next year.

The Colin Armer/Greg Gent proposal to reduce the board to nine members was supported by 53.8% of farmers. However, the proposal needed 75% support to enable changes to the co-op constitution.

About 65% of shareholders, producing 73% of the co-op's total milk solids, turned out to vote

More like this

Strange bedfellows

OPINION: Two types of grifters have used the sale of Fonterra's consumer brands as a platform to push their own agendas - under the guise of 'caring about the country'.

Featured

India-New Zealand free trade agreement (FTA) dairy outcomes

OPINION: As negotiations advance on the India-New Zealand FTA, it’s important to remember the joint commitment made by Indian Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon at the beginning of this process in March: for a balanced, ambitious, comprehensive, and mutually beneficial agreement.

National

Machinery & Products

New pick-up for Reiter R10 merger

Building on experience gained during 10 years of making mergers/ windrowers, Austrian company Reiter has announced the secondgeneration pick-up on…