Fonterra Whareroa sets cheese record, wins top award
Fonterra Whareroa wrapped up a successful season with a record-breaking cheese production volume and several gongs at the co-op's annual Best Site Cup awards.
FONTERRA CHAIRMAN Henry van der Heyden is to get a 27% pay rise.
The co-op shareholders passed a resolution, at last week's annual meeting, boosting his salary from the current $315,000 to $400,000.
Shareholders also agreed to increase Fonterra director fees by 14% to $160,000. They will also receive allowance for board committee membership.
Fonterra director remuneration committee chairman Rodney Wilson says market expectations and trends for director fees – both here and overseas – were taken into account when setting the new fees.
"The committee believes it is important to set realistic fee levels, having particular regard to the broader market to ensure skilled directors are attracted and retained on the board," he told the meeting.
Wilson says the committee also looked at market trends and believes Fonterra director fees are "modest" in comparison to other New Zealand companies.
The committee also increased the fees of Fonterra Shareholders Council chairman Simon Couper by 12.5% to $90,000. The council's deputy chair will now get $55,000 – an increase of 25%, while councillors' fees remain unchanged at $25,000.
Fonterra shareholders also approved a new budget for the council. Independent director John Waller was re-elected for another term.
Commercial fruit and vegetable growers are being encouraged to cast their votes in the Horticulture New Zealand (HortNZ) board directors' election.
A unique discovery by a Palmerston North science company, Biolumic, looks set to revolutionise the value and potential of ryegrass and the secret is the application of ultraviolet (UV) light.
A New Zealand company is redefining the global collagen game by turning New Zealand sheepskin into a world-class health product.
With further extreme weather on the way, ANZ Bank is encouraging farmers and business owners impacted by the recent extreme weather and flooding to seek support if they need it.
New Zealand must continue to educate Chinese consumers about the unique qualities of its red meat products and how they differ from competitors, says Silver Fern Farms chief executive Dan Boulton.
There are opportunities outside the farmgate for young farmers to further develop their skills, says 2025 Primary Industries Emerging Leader Award winner Bridie Virbickas.
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