Revamped Fonterra to be ‘more capital-efficient’
Fonterra chair Peter McBride says the divestment of Mainland Group is their last significant asset sale and signals the end of structural changes.
He says the steering group set up to conduct the review is seeking the views of Fonterra shareholders and sharemilkers.
“Contentiously the survey is also open to sharemilkers of Fonterra suppliers ... I use the word contentiously as in the past the views of sharemilkers have not always been asked for,” he says.
“So, I see this opportunity and invitation from the council to view those opinions of sharemilkers as a welcome change.”
Moore notes that, last year, Fonterra launched its “Good Together” program after a few years of hard work, putting together a purpose and vision strategy.
He says the change is largely the culture within the company: “now less arrogant and more eyes wide open to what’s ahead”.
“Obviously, they realise that to make a change they need the industry’s future landowners to have their say.”
Moore says this is sharemilkers’ chance to have a say in the future of their coop.
“Take this opportunity to make a difference.”
Submissions close May 19.
The steering committee is chaired by former government official James Buwalda and is made up of farmer shareholders, Fonterra directors and councillors.
