Fonterra’s $3.2b capital return to farmers set to boost rural incomes and NZ economy
According to ASB, Fonterra's plan to sell it's Anchor and Mainlands brands could inject $4.5 billion in additional spending into the economy.
Australian Clinton Dines will take up the board position made vacant by Sir Ralph Norris on November 25 at the annual meeting.
Chairman John Wilson says world-class governance is one of the board's top priorities, and the co-op needs directors with a broad range of talent and depth of business experience.
"The board welcomes Mr Dines, an Australian, who has outstanding business and governance credentials."
Dine has experience in China, having lived and worked there for 36 years. He took up a role as a senior executive for BHP Billiton in 1988, his tenure lasted 21 years and saw him become president of the company.
"His expertise in managing the complexities of a large global commodity business, and leading organisations through change and growth make him ideally qualified to join Fonterra's Board," says Wilson.
"Mr Dines is well versed in managing the impacts of global commodity price fluctuations. Fourteen years of his time at BHP in China were in a buyers' market where the prices were low, while the last seven years were in a boom market."
Dines currently serves on the boards of KAZ Minerals and Zanaga Iron Ore. These are significant businesses listed on the London Stock Exchange and AIM. In addition, he is a non-executive director of Aurecon, a professional services engineering group, North Queensland Airports, and Griffith University.
The independent directors of the manager of the Fonterra Shareholders' Fund support Dines' appointment.
According to ASB, Fonterra's plan to sell it's Anchor and Mainlands brands could inject $4.5 billion in additional spending into the economy.
New Zealand’s trade with the European Union has jumped $2 billion since a free trade deal entered into force in May last year.
The climate of uncertainty and market fragmentation that currently characterises the global economy suggests that many of the European agricultural machinery manufacturers will be looking for new markets.
Dignitaries from all walks of life – the governor general, politicians past and present, Maoridom- including the Maori Queen, church leaders, the primary sector and family and friends packed Our Lady of Kapiti’s Catholic church in Paraparaumu on Thursday October 23 to pay tribute to former prime Minister, Jim Bolger who died last week.
Agriculture and Forestry Minister, Todd McClay is encouraging farmers, growers, and foresters not to take unnecessary risks, asking that they heed weather warnings today.
With nearly two million underutilised dairy calves born annually and the beef price outlook strong, New Zealand’s opportunity to build a scalable dairy-beef system is now.
OPINION: Voting is underway for Fonterra’s divestment proposal, with shareholders deciding whether or not sell its consumer brands business.
OPINION: Politicians and Wellington bureaucrats should take a leaf out of the book of Canterbury District Police Commander Superintendent Tony Hill.