Fonterra FY26 Results: $9.69 Milk Price, $3.4bn Profit
Fonterra has unveiled its annual results for the 2026 financial year, posting $27 billion in revenue and close to $20 billion returned to New Zealand farmer owners and unit holders.
After years of rubber stamping strategy and executive performance now revealed as fairly average, the council has earned a reputation as being more lapdog than watchdog. Concerned shareholders now want answers.
They have put a resolution for the Fonterra annual meeting demanding an independent review of the council, to be completed mid-2020 with any constitutional changes tabled at the 2020 annual meeting.
Crucially, they don’t want another internal whitewash review: they rightly say it must be independent. Milking It has long held doubts about the council’s independence, given it is a proven gateway to plum board positions within the Fonterra network.
Off the back of a $605 million loss this review is a no-brainer. The watchdog has been caught napping on the job.
