Fonterra's biggest shareholder, ex-director Colin Armer, says it’s unbelievable the co-op’s directors and management have lost so much money.
This is showing in the efforts of DairyNZ and Beef + Lamb NZ in their dealings on agricultural emissions. Your old mate is getting more and more feedback from farmers about how these two bodies – notably their highly paid executives who have no skin in the game – are promoting reductions in agri sector emissions which are totally unachievable using available technologies.
All this means the only way farmers could achieve these proposed reductions would be to cull livestock. That’s not smart advocacy by outfits that depend on the continuing success and growth of the farming sector.