Tuesday, 05 November 2024 12:55

Mixed legacy

Written by The Hound

font size decrease font size increase font size
Print
Email

OPINION: You're never as good as when you're dead, and with due respect to Theo Spierings' family, the Hound can't let the death of the former Fonterra CEO pass without mentioning the parlous state he left Fonterra in when he exited in 2018 - having pocketed well north of $30 million over seven years.

To be fair, about the same time he resigned, advisory firm TDB had calculated that the 'mega merger' that formed Fonterra delivered dairy farmers less than 2.5% annual compound growth in revenue - well short of the 15% industry leaders had pitched to cockies pre-2001.

However, when Spierings departed, with nary a word, but with full pockets, the co-op faced a 20% drop in share value and a $196m loss for 2018, plus a forecast loss for 2019 that turned out to be a massive $605m loss.

Featured

Nathan Guy to represent New Zealand’s agricultural exports as special envoy

New Zealand's new Special Agricultural Trade Envoy, Horowhenua dairy farmer, company director and former Minister of Agriculture, Nathan Guy says the Free Trade Agreement (FTA) with India is a good deal for the country.

Dairy farmers retain and upskill international workers as visa data shows positive shift – Federated Farmers

New figures show dairy farmers are not only holding on to their international workforce, but are also supporting those staff to step into higher-skilled roles on farm.

New tractor deliveries jump 10% in 2025 as farmer confidence lifts – TAMA

New tractor deliveries for 2025 jumped 10% compared to the previous year, a reflection of the positive primary sector outlook, according to the Tractor and Machinery Association (TAMA).

Two new awards open to help young farmers progress to farm ownership

Entries have opened for two awards in the New Zealand Dairy Industry Awards (NZDIA) programme, aimed at helping young farmers progress to farm ownership.

Mike Siermans confirmed as Federated Farmers chief executive

Federated Farmers has confirmed interim chief executive Mike Siermans to the role.

Registrations open for 2026 Ruralco Golf Classic supporting Mid Canterbury Rural Support Trust

Registrations are now open for the 2026 Ruralco Golf Classic, with all proceeds from the event set to support the Mid Canterbury Rural Support Trust.

National

Government taps Nathan Guy as Agricultural Trade Envoy

Former Agriculture Minister Nathan Guy says he's excited about his new role as NZ's Special Agricultural Trade Envoy.

Horticulture leader Dr Stuart Davis remembered for lasting legacy

A pillar of New Zealand's horticultural industry, Dr Stuart Davis, was farewelled at a well-attended funeral service in Tuakau, South…

Stable but uncertain year ahead for New Zealand primary exports – MPI

A stable but uncertain year lies ahead for New Zealand primary products, says Ministry for Primary Industries (MPI) Director General,…

China’s new beef tariffs expected to favour New Zealand exporters

Additional tariffs introduced by the Chinese Government last month on beef imports should favour New Zealand farmers and exporters.

Primary sector leaders praise speed and ambition of India–NZ free trade deal

Primary sector leaders have praised the government and its officials for putting the Indian free trade deal together in just…

Machinery & Products

Krone BiG Pack Gen 6 sets new baling benchmark

Recently named Farm Machine of the Year 2026 in the forage and harvesting category at Agritechnica in Hanover, Germany, the…

Carrfields expands machinery and seed capabilities

Complementing its existing portfolio of agricultural machinery brands, which includes Grange Machinery, Horsch, Novag, Manitou and MacDon, Ashburton-headquartered Carrfields has…