Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
At least one new director will be elected to the co-op board this year and Fonterra Shareholders Council chair, Ian Brown, is urging farmers to take part in the poll and elect the best-qualified people to govern their business.
Six director candidates -Gray Baldwin, Leonie Guiney, David MacLeod, John Monaghan, Garry Reymer and Grant Rowan are vying for three seats at Fonterra's top-table, with voting closing at 10.30am on Monday, 10 November.
Brown says it is vital that shareholders take the responsibility to make an informed decision that benefits us now and the next generation of Fonterra farmers in years to come.
"This means electing to our board the candidates with the mix of governance skills, ability and experience that will enable Fonterra to continue to succeed in the global marketplace in which it operates."
Voting information
• Voting for the directors' and the Shareholders' Council elections closes at 10.30am on Monday, 10 November 2014 with the results announced later that day.
• Shareholders can vote by internet, fax or post, using the Single Transferable Vote system.
• Three seats on the Fonterra board will be contested.
• The director candidates are: Gray Baldwin, Leonie Guiney, David MacLeod, John Monaghan, Garry Reymer, and Grant Rowan.
• Four seats on the Shareholders' Council will be contested in wards: 2 Central Northland, 7 Piako, 14 Eastern Bay of Plenty and 22 Northern Manawatu.
