Fonterra appoints new CFO
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.
Fonterra shareholders have voted overwhelming in favour of a resolution to lock in protections around the size of the Fonterra Shareholders' Fund and the integrity of the Farmgate Milk Price.
Resolution 8 was passed with 89.51% support at Fonterra's Annual Meeting in Hamilton today.
The results of the resolutions are:
RESOLUTION RESULT -
% in favour
Resolution 1: Approval of remuneration of Directors 73.73%
Resolution 2: Approval of remuneration of Shareholders' Council 75.85%
Resolution 3: Approval of remuneration of members of Directors' Remuneration Committee 80.21%
Resolution 4: Appointment of PricewaterhouseCoopers as auditor and authorisation of the Directors to fix the auditor's remuneration 94.67%
Resolution 5: Approval of Shareholders' Council programme and budget 87.53%
Resolution 6: Ratification of appointment of Sir Ralph Norris 84.91%
Resolution 7: Ratification of appointment of Ralph Waters 88.37%
Resolution 8: Constitutional Changes for Trading Among Farmers 89.51%
SHAREHOLDER PROPOSAL RESULT -
% in favour
McKenzie Proposal 36.56%
Following the annual meeting, the board formally confirmed chair Elect John Wilson as the chairman of Fonterra.
OPINION: The recent Federated Farmers / Rabobank 2024 Farming Salaries Report revealed strong growth in farm salaries over the past two years.
The low unemployment environment is one of the key factors driving on-farm salaries higher over the past 24 months, says Rabobank general manager for country banking Bruce Weir.
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.
A seminar on rural dispute resolution has been organised at Lincoln University, Christchurch this month.
The legacy of Dr Peter Snow continues to inspire as the recipients of the 2023 and 2024 Peter Snow Memorial Awards were announced at the recent National Rural Health Conference.
One of Fonterra’s global customers, Mars is launching an ambitious sustainable dairy plan to work with dairy farmers and cut emissions by 50%.
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