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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.
Two butcheries have claimed victory at the 100% New Zealand Bacon & Ham Awards for 2025.
A Taupiri farming company has been convicted and fined $52,500 in the Hamilton District Court for the unlawful discharge of dairy effluent into the environment.
The Climate Change Commission’s 2025 emissions reduction monitoring report reveals steady progress on the reduction of New Zealand’s climate pollution.
Another milestone has been reached in the fight against Mycoplasma bovis with the compensation assistance service being wound up after helping more than 1300 farmers.
The Government’s directive for state farmer Landcorp Farming (trading as Pamu) to lifts its performance is yielding results.
The move to bring bovine TB testing in-house at Ospri officially started this month, as a team of 37 skilled and experienced technicians begin work with the disease eradication agency.
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