Thursday, 05 November 2020 17:03

Fonterra farmers proud of board, management and staff

Written by 

Many Fonterra farmers have expressed their pride in the way the co-op board, management and staff have kept the wheels of the business turning during Covid-19.


That was the message from Fonterra Shareholders Council chairman James Barron at the co-op’s annual general meeting in Masterton today.


Speaking to about 180 farmers, Barron said, he like many of them, have greatly appreciated the leadership and commitment seen.


“The commitment to keep milk collections happening…. the entire Farm Source team supporting us, our plants operating, and our product being delivered and sold around the world.


“After a period of fairly intense criticism both in the media and by sectors of the general public, many of you told us it has been pleasing to see positive commentary on the importance of the agricultural sector to New Zealand.


“On behalf of our farmers, I would like to thank our Fonterra employees who have worked so hard, with grit, determination and professionalism, to keep our co-op open for business in these unprecedented times and their families who supported them as they did that.”


Barron also told shareholders that the Fonterra board met nine of the Board’s 14 targets in the last financial year: compared to five out of 15 in FY19, and one out of nine in FY18.


Since 2018, the council has also been monitoring average total shareholder return and average return on capital employed, in each case since Fonterra’s formation.


“This reflects the fact that we are all part of an intergenerational co-operative, and as such it is important to incorporate an intergenerational horizon when monitoring performance. We have been reporting these figures to you in our annual reports since 2018.”

 

More like this

Fonterra sticking to $10/kgMS milk price

Fonterra has reaffirmed a forecast milk price mid-point of $10/kgMS for its farmer shareholders, with just over two months of the 2024-25 season left to run.

Featured

Pāmu farm opens gate to urban visitors

For many urban New Zealanders, stepping into Pāmu’s Pinta dairy farm near Taupo last month was the first time they had had the chance to experience farm life up close.

Afimilk appoints new general manager

Afimilk, a global dairy farm management solutions provider, has appointed Justin Miller as the new general manager for New Zealand and Australia.

National

Machinery & Products

Gong for NH dealers

New Holland dealers from around Australia and New Zealand came together last month for the Dealer of the Year Awards,…

A true Kiwi ingenuity

The King Cobra raingun continues to have a huge following in the New Zealand market and is also exported to…

Data crucial to managing water

Watermetrics was formed as a water data collector and currently supplies and services modern technology such as flow meters, soil…

» Latest Print Issues Online

Milking It

Dairy power

OPINION: The good times felt across the dairy sector weren't lost at last week's Beef + Lamb NZ annual meeting.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter