Green Light for Fonterra's $3.2b Capital Return Scheme
Fonterra farmer shareholders have approved the mechanism for a $2/share capital return expected from the sale of its global consumer and associated businesses.
Speaking at the co-op's annual general meeting this week in Palmerston North, Wilson highlighted unity and collective strength.
"We have that strength and this year we really challenged ourselves to come up with ways we could use it more effectively for you.
We are very aware of the increasingly diverse expectations you as farmers have of your co-operative, and the changing demands for information."
Wilson says Fonterra has worked to provide significantly more support both at a community leadership and on-farm level in the environmental area, working closely with Dairy NZ and other providers.
"We have made good progress but we recognise we can do more, as we strive to balance our aim to provide high levels of service to our owners, while also addressing compliance responsibilities."
Recently, Fonterra announced Farm Source – where it's rebranding its RD1 stores and rolling out incentives for farmers.
Wilson says it's designed to support you to succeed and grow so the co-op can increase its milk supply in New Zealand.
He stressed that growing the New Zealand milk supply is core to Fonterra's business.
But he says Farm Source is not just a rebrand.
"We would not waste hard-earned farmers' money in that way. It is a total re-look at the way our cooperative supports you as owners.
Farm Source connects our farmers to the full strength of our cooperative through a coherent package of service, support, rewards, online and financial options. It is a significant step up in the way we will work with you. We are bringing our farm support focus directly into the regions to better meet your requirements."
