Friday, 15 November 2024 14:22

Fonterra trims board size

Written by  Sudesh Kissun
Fonterra chair Peter McBride with outgoing director Leonie Guiney at the AGM in New Plymouth. Fonterra chair Peter McBride with outgoing director Leonie Guiney at the AGM in New Plymouth.

Fonterra’s board has been reduced to nine - comprising six farmer-elected and three appointed directors.

Last year over 88% of voting farmer shareholders backed a board proposal to reduce the 11-member board to nine.

This year, three farmer-elected directors – chair Peter McBride, John Nicholls and Leonie Guiney retired by rotation. Guiney did not seek re-election after serving nine years on the board. McBride and Nicholls were re-elected unopposed.

Appointed director Clinton Dines has also retired after serving for nine years. He was replaced by Alistair Field, whose appointment was ratified by shareholders at the co-op’s annual meeting in New Plymouth yesterday.

Speaking at the meeting, McBride thanked Guiney and Dines for their time and energy.

“Your contribution to Fonterra has been significant, but in particular your focus on risk and balance sheet management has been invaluable as we have reset the business.

“If the measure of success for a director is leaving the organisation in better shape than you found it, then you have both unquestionably achieved that. Our Co-op is in good health.


Read More


“The sentiment we are receiving from farmers right now is overwhelmingly positive.”

More like this

All eyes on NZ milk supply

All eyes are on milk production in New Zealand and its impact on global dairy prices in the coming months.

"Our" business?

OPINION: One particular bone the Hound has been gnawing on for years now is how the chattering classes want it both ways when it comes to the success of NZ's dairy industry.

Farmers' call

OPINION: Fonterra's $4.22 billion consumer business sale to Lactalis is ruffling a few feathers outside the dairy industry.

Wasted energy

OPINION: Finance Minister Nicola Willis could have saved her staff and MBIE time and effort over ‘buttergate’ recently by not playing politics with butter prices in the first place.

Featured

Editorial: No joking matter

OPINION: Sir Lockwood Smith has clearly and succinctly defined what academic freedom is all about, the boundaries around it and the responsibility that goes with this privilege.

DairyNZ plantain trials cut nitrate leaching by 26%

DairyNZ says its plantain programme continues to deliver promising results, with new data confirming that modest levels of plantain in pastures reduce nitrogen leaching, offering farmers a practical, science-backed tool to meet environmental goals.

All eyes on NZ milk supply

All eyes are on milk production in New Zealand and its impact on global dairy prices in the coming months.

National

Machinery & Products

Tech might take time

Agritech Unleashed – a one-day event held recently at Mystery Creek, near Hamilton – focused on technology as an ‘enabler’…

John Deere acquires GUSS Automation

John Deere has announced the full acquisition of GUSS Automation, LLC, a globally recognised leader in supervised high-value crop autonomy,…

Fencing excellence celebrated

The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards,…

» Latest Print Issues Online

The Hound

A step too far

OPINION: For years, the ironically named Dr Mike Joy has used his position at Victoria University to wage an activist-style…

Save us from SAFE

OPINION: A mate of yours truly has had an absolute gutsful of the activist group SAFE.

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter