Farmers' call
OPINION: Fonterra's $4.22 billion consumer business sale to Lactalis is ruffling a few feathers outside the dairy industry.
Fonterra says it will bring a revised governance structure for vote before shareholders by the end of this year.
The co-op has failed to get the 75% support needed to reduce its board size, from 13 to 11.
The board's proposal received 63.7% support from shareholders who voted; 58.6% of total shareholders took part in the vote.
Chairman John Wilson says personally he is delighted that nearly two-thirds of farmer shareholders supported the proposal.
He says there is a strong desire for change and he is confident the co-op will land on a model that is right for its shareholders.
"There is a strong desire for change among our farmer shareholder base," he says.
"Farmers want a system that will bring knowledgeable people to our board.
"We must change the current system; we proposed some significant changes and not everyone supported them."
Wilson says the main feedback from farmers was that under the proposed system they were not able to choose between all the candidates.
Wilson says the board will go back to the drawing board and bring a revised plan before shareholders by the end of this year.
"We cannot stand still."
Academic Dr Mike Joy and his employer, Victoria University of Wellington have apologised for his comments suggesting that dairy industry CEOs should be hanged for contributing towards nitrate poisoning of waterways.
Environment Southland's catchment improvement funding is once again available for innovative landowners in need of a boost to get their project going.
The team meeting at the Culverden Hotel was relaxed and open, despite being in the middle of calving when stress levels are at peak levels, especially in bitterly cold and wet conditions like today.
A comment by outspoken academic Dr Mike Joy suggesting that dairy industry leaders should be hanged for nitrate contamination of drinking/groundwater has enraged farmers.
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