Survey shows most Fonterra farmers plan to use capital return for debt reduction
A large slice of the $3.2 billion proposed capital return for Fonterra farmer shareholders could end up with the banks.
Brent Goldsack and Andy Macfarlane were elected at the co-op’s annual meeting in Hawera last week.
Macfarlane says serving on the board of New Zealand’s largest company is a great responsibility.
Goldsack says he is humbled to be chosen to serve farmers.
“Fonterra is in great shape and I look forward to serving farmers and New Zealand.”
Shareholders voted to elect incumbent director John Monaghan and new directors Brent Goldsack and Andy Macfarlane.
Goldsack lives at Matangi and has farming interests in Waikato and Manawatu.
Born in Taranaki and raised on a dairy farm in Inglewood, Goldsack is a chartered accountant and was a partner at PwC for at least 12 years.
Macfarlane is from Ashburton and has extensive farming interests in Mid Canterbury.
He runs a rural and farm advisory business and is a director of AgResearch and Ngai Tahu Farming and a councillor of Lincoln University.
Goldsack and Macfarlane replace Leonie Guiney and David MacLeod on the board.
Wairarapa farmer John Monaghan was re-elected for another three-year term by farmers.
