Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra chief executive Theo Spierings is to leave by the end of this year.
Fonterra’s board initiated international searches in November last year to identify potential candidates and is now shortlisting candidates.
Fonterra chairman John Wilson says the board was taking the decision to bring forward the announcement, which the board was expecting to make in April, to avoid speculation.
“It is not yet clear exactly when any appointment for Theo’s replacement will be made, but it is absolutely clear that Theo will continue in the meantime to drive the cooperative’s strategy and business, with special emphasis on China.
“The board and Theo are committed to a high-quality transition to a new CEO and when we have more information in regards to timing we will let our farmers and the wider market know. Until then it is business as usual with the focus on driving returns to our farmers and unitholders.
“We envisage that even after the announcement of our new CEO, Theo will be involved in an advisory role so that we make best use of his knowledge and expertise during the transition,” says Wilson.
Spierings says that he has been proud to have led Fonterra as CEO for seven years as the cooperative has established a strong demand-led strategy and oriented itself to become innovative and sustainable.
“It is now time for a new CEO who can lead the cooperative through this next phase. The time is right for the co-operative and that is important to me and to the board.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
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