Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra chairman John Wilson says the final vote on governance and representation reflects shareholder sentiment.
He says that the recommendations were a significant improvement and it was time to move the cooperative forward.
“Cooperatives, by their nature, need consensus on the important decisions. That is as it should be and today we have agreed on the final recommendations after a very constructive eight months of discussions and refinements,” says Wilson.
“It is a clear signal from our shareholder base that it is time to push on so the co-op can focus on our business priorities.”
Fonterra shareholders voted 85.96% in favour of the new proposal by the board.
The main effect of the changes is that a new election process for farmer directors will come into force. Under this process, candidates are selected by an Independent Selection Panel, then approved by the Nominations Committee of the Board and by the Shareholders Council before they are put forward to shareholders for their vote and support.
There is also provision for candidates to stand outside this process and self-nominate, provided they are supported by 35 other shareholders. A first past the post majority voting system will mean all director candidates now need at least 50% farmer support.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
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