Friday, 13 April 2012 12:20

Couper: Council backs TAF process

Written by Pamela Tipa

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The Fonterra Shareholders' Council, which safeguards the interests of Fonterra's 10,500 farmer shareholders, says it remains fully supportive of the Trading Among Farmers (TAF) process.

Council Chair, Simon Couper says the council's position on the matter has remained consistent from the outset.

"The council has supported TAF from its inception conditional on due diligence by the board and the council, the pre conditions being met, and 100% ownership and 100% control being maintained by our farmer shareholders.

"The council will continue to engage with the board and management in order to gain as clear an understanding of TAF as possible as we prepare to receive the four preconditions.

"As always, we will continue to perform our duties and work in the best interests of our shareholder farmers as we seek to deliver an enduring co-op under TAF."

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