Data sharing initiative wins national award for saving farmers time
The work Fonterra has done with Ballance Agri-Nutrients Ltd, LIC and Ravensdown to save farmers time through better data connections has been recognised with a national award.
Fonterra chairman John Monaghan has hinted that he may step down next year.
A farmer-elected director Monaghan is due to retire by rotation at the 2020 annual meeting, normally held in November.
In a note to farmer shareholders today, Monaghan said he will be working with the board next year to facilitate chair succession.
“Having seen through the introduction of our new strategy, operating model, and with our divestment and debt reduction efforts well progressed, I will be working with the board in 2020 to facilitate chair succession,” he wrote.
“The timeline for that succession will be agreed by the board nearer to the time.”
A chairman-designate could be elected by the board early next year, allowing time for a smooth transition before Monaghan retires in November, 2020.
The chairman is elected by the 11-member board, made up seven farmer-elected directors and four independents.
Under Fonterra’s constitution only farmer-elected directors can hold the chairmanship.
Former Zespri chairman Peter McBride was touted as a future chairman when he was elected to Fonterra’s board last year.
Among sitting farmer-elected directors, Leonie Guiney has four years of board experience: the longest serving farmer-director after Monaghan.
It was also announced today that independent director Simon Israel will retire in November.
Monaghan told farmer shareholders that succession planning is a priority for this board.
“As you would expect, we have open discussions within the board on development and succession.
“Those conversations include professional development plans for all directors; diversity; connection back to the farm; skills and experience on the board; and the appropriate length of term for all independent and farmer directors – including the chairman.”
Monaghan has been a director of Fonterra since 2008; he was elected chairman in July last year.
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
OPINION: Years of floods and low food prices have driven a dairy farm in England's northeast to stop milking its…
OPINION: An animal activist organisation is calling for an investigation into the use of dairy cows in sexuallly explicit content…