Expert Says Fonterra Backing Current Strategy With New CEO Appointment
The appointment of Richard Allen as Fonterra's new chief executive signals execution, not strategy, according to agribusiness expert Dr Nic Lees.
The South Canterbury farmer has been confirmed as a self-nominated director candidate. He will face off with the two board-nominated directors Michael Spaans and Donna Smit.
The self nomination process allowed any Fonterra shareholder (with the support of 35 different shareholders) to put themselves forward as a director candidate and be considered for election by their fellow shareholders alongside the previously announced Independent nomination process candidates.
Fonterra shareholders have the opportunity to meet and ask questions of the director candidates at seven meetings throughout the country, starting in Whangarei on November 22 and finishing in Gore on November 25.
Nattrass served on Fonterra’s board for six years before he was voted out by shareholders in 2009; Massey University academic Nicola Shadbolt replaced him.
Fonterra will hold its annual meeting in Darfield on December 8.
