Fonterra unveils divestment plan
Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
Bay of Plenty farmer and accountant Donna Smit has been nominated by the Fonterra board for one of the two director vacancies.
The board has also nominated director Michael Spaans, retiring by rotation.
Both candidates were recommended by the Independent Selection Panel. The process for their nomination was supported by the Shareholders Council in accordance with the independent nomination process.
As a result of the recent changes to Fonterra’s governance and representation, approved by Shareholder vote at the Special Meeting in October, the 2016 Directors’ Election process includes two nomination options; the independent nomination process and the self-nomination process.
The self-nomination process, where farmers can stand as a candidate for the board with the support of 35 different Shareholders, is now open. Nominations close on Thursday, 10 November 2016.
The full list of candidates for the Fonterra board election, including the independent nomination process candidates and any self-nomination process candidates, will be announced by November 16.
Voting packs, containing candidate profiles, will be mailed to eligible shareholders on November 21.
Shareholders can vote by internet, fax or post, using the First Past the Post, Majority system. Voting closes at 10.30am on Tuesday, 6 December 2016 with the results being announced later that day.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.