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Brent Goldsack.
A capital structure that gives farmers flexibility is a priority for re-elected Fonterra director Brent Goldsack.
He says the board will have a dialogue with farmers on a capital structure that matches its strategy for more value added earnings and a sustainable milk supply.
Goldsack says the co-operative will remain 100% owned by New Zealand farmers.
The Waikato farmer and former financial adviser with PwC is humbled to be re-elected by farmers for another three-year term. Goldsack polled the highest votes among six candidates.
“It’s a privilege and great honour to serve on the Fonterra board,” he told Dairy News.
“This is an industry and a cooperative that I am positive about. I feel a great sense of responsibility.”
Goldsack says as a director he is part of the team of board members and is proud of what the team has achieved in the last three years.
He lists the revised strategy, changing advance rates for payout and the Co-op Difference programme as some of the board’s achievements.
There’s no doubt a lot of work is ongoing, he adds. Goldsack is currently chair of the co-operative relations committee, a member of the milk price panel, the safety and risk committee, the capital structure committee, the divestment review committee, and the disclosure committee.
In addition, he serves as the Fonterra representative on the ‘Dairy Tomorrow’ Steering Group – which focuses on the strategy for the dairy industry.
He also holds several governance roles, including director of Rabobank and chair of Waitomo Petroleum Group. He was previously on the board of Canterbury Grasslands Limited and the New Zealand National Fieldays Society.
His family owns three dairy farms in the Waikato milking 1,500 cows.
OPINION: There is zero chance that someone who joined Fonterra as a lobbyist, then served as a general manager of Fonterra's nutrient management programme, and sat on the board of Export NZ, a division of lobbyist group Business New Zealand, doesn't understand that local butter (and milk and cheese) prices are set by the international commodity price.
Kiwis love their butter, and that's great because New Zealand produces some of the best butter in the world. But when the price of butter goes up, it's tough for some, particularly when many other grocery staples have also gone up and the heat goes on co-operative Fonterra, the country's main butter maker. Here the co-op explains why butter prices are so high right now.
An A$2 billion bid for Fonterra's Oceania business would be great news, according to Forsyth Barr senior analyst, equities, Matt Montgomerie.
The world's largest dairy company may be in pole position to acquire Fonterra's Australian assets.
Over 85% of Fonterra farmer suppliers will be eligible for customer funding up to $1,500 for solutions designed to drive on-farm efficiency gains and reduce emissions intensity.
Fresh produce grower and exporter T&G Global has overturned last year’s dismal performance by reporting a half year net profit of $1.7 million.
One of New Zealand’s largest fertiliser plants could be forced to shut down for four months as uncertainty looms over gas supply.
Federated Farmers North Canterbury president Bex Green says two public meetings held this week should have made it loud and clear that rural families and businesses are concerned about proposed staffing changes at NZ Police.
The Environmental Protection Authority (EPA) is consulting on a proposal to ban weedkillers containing chlorthal-dimethyl (DCPA).
August 6 marks Farm Worker Appreciation Day, a moment to recognise the dedication and hard mahi of dairy farm workers across Aotearoa - and DairyNZ is taking the opportunity to celebrate the skilled teams working on its two research farms.
OPINION: The Government has been seeking industry feedback on its proposed amendments to a range of Resource Management Act (RMA) national direction instruments.
