Friday, 01 December 2017 20:52

A tough day for Fonterra

Written by 
 Duncan Coull. Duncan Coull.

Fonterra Shareholders Council chairman Duncan Coull says today’s arbitration decision on the claims made by Danone has made this a tough day for the co-op.

Coul says it is farmer owners who will ultimately bear the cost, a fact he says is not lost on the Fonterra business.

He says Fonterra has made significant strides since the 2013 incident in terms of strengthening its operational processes, culture, and governance – as per the independent review process recommendations – and embedding them into our co-op’s functions and framework.

“Council is confident this has been done to a high standard and that our co-op is well placed in its journey to become the world’s most trusted source of dairy nutrition.”

The council was also confident the co-op acted with integrity when it issued the precautionary recall.

“Do What’s Right is one of our four values and in continuing to put safety ahead of all else we will build on the trust people throughout the world have in us.

“As tough as this outcome is, the lessons learned have enabled our co-op to emerge stronger and we now need to move forward together - proud of who we are, what we have achieved, and of our commitment to our values.”

More like this

Winston Peters questions Fonterra divestment plan

Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.

Editorial: A new era for two co-ops

OPINION: Farmer shareholders of two of New Zealand's largest co-operatives have an important decision to make this month and what they decide could change the landscape of the dairy and meat sectors in New Zealand.

Should co-op sell its consumer brands?

OPINION: As CEO of the Dairy Board in the 1980s I was fortunate to work with a team of experienced and capable executives who made most of the brand investments that created the international consumer business Fonterra inherited. Soprole in Chile was the largest, but there were more than 20 countries where consumer marketing companies were established and Anchor and other brands were successfully launched.

Featured

'One more push' to eliminate FE

Beef + Lamb New Zealand (B+LNZ) is calling on farmers from all regions to take part in the final season of the Sheep Poo Study aiming to build a clearer picture of how facial eczema (FE) affects farms across New Zealand.

Winston Peters questions Fonterra divestment plan

Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.

National

Machinery & Products

New McHale terra drive axle option

Well-known for its Fusion baler wrapper combination, Irish manufacturer McHale has launched an interesting option at the recent Irish Ploughing…

Amazone unveils flagship spreader

With the price of fertiliser still significantly higher than 2024, there is an increased onus on ensuring its spread accurately at…

» Latest Print Issues Online

Milking It

Tough times

OPINION: Dairy industry players are also falling by the wayside as the economic downturn bites around the country.

MSA triumph

OPINION: Methane Science Accord, a farmer-led organisation advocating for zero tax on ruminant methane, will be quietly celebrating its first…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter