Why Fonterra accepted defeat in the dairy aisle
OPINION: Fonterra's sale of its consumer dairy business to Lactalis is a clear sign of the co-operative’s failure to compete in the branded consumer market.
Chamber chief executive Don Good said the reason why the dairy co-op has its HQ in the Viaduct, downtown Auckland, beats most people, including their farmer shareholders.
“As a cornerstone of Peter McBride (Fonterra chairman) and Miles Hurrell’s (CEO) campaign to reconnect Fonterra with its stakeholders, Fonterra needs to come back home to the Waikato,” Good argued.
However, Fonterra is unmoved by his argument and says it’s not shifting its Auckland HQ or the 1221 staff who work there.
Ironically, during the 3 month lockdown in Auckland, the co-op’s flash waterfront HQ has been a ghost town, as most people worked from home.
