Fonterra updates earnings
Fonterra says its earnings for the 2025 financial year are anticipated to be in the upper half of its previously forecast earnings range of 40-60 cents per share.
However, as this is an uncontested election, under Fonterra’s board election rules, both sitting directors must gain more than 50% support of votes cast to serve another three-year term.
When nominations for the non-assessment process closed yesterday, Goldsack and Quinn were the only two candidates. Over the years all Fonterra director elections have been contested.
Fonterra shareholders can nominate themselves to contest director elections in two ways: either as independently assessed candidates or go through the non-assessment process.
Goldsack and Quinn were announced last week as the independently assessed candidates after undergoing assessment by an independent panel of agribusiness leaders.
Voting Packs, containing candidate profiles, will be mailed to eligible shareholders from Monday. Shareholders can vote online or by post from Tuesday, October 17.
Voting closes at 10.30am on Tuesday, 7 November 2023 with the results being announced later that day.
