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.
Independent Fonterra director Scott St John is stepping down from the role, citing an increasing workload.
The co-operative announced that St John will leave the Fonterra board on May 31, 2024 after serving for seven years.
Fonterra chairman Peter McBride says St John has made the decision in consideration of his workload and increase in governance commitments.
“I’d like to thank Scott for the time and energy he’s given Fonterra and its farmers. Scott has brought to the Board his vast knowledge of financial markets and passion for innovation,” says McBride.
St John is the chair of Fisher & Paykel Healthcare and serves on the boards of ANZ Bank, Mercury, and NEXT Foundation. He will step into the role of chair of Mercury from 1 January 2024.
He currently serves as a member of Fonterra’s audit, finance and risk committee, sustainability and innovation committee, and disclosure committee. He was also previously chair of the milk price panel for over six years.
“I’ve thoroughly enjoyed my time with Fonterra, including working with the board and management team through its strategic reset. The Co-op has seen a real turnaround in its performance and has a bright future. I look forward to seeing Fonterra’s continued success as it works to grow long-term value for farmers,” says Mr St John.
The Fonterra board will shortly commence a search process to replace St John and farmer shareholders will have an opportunity to ratify that appointment at the 2024 annual meeting.
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.
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird…
OPINION: Synlait's financial woes won’t be going away anytime soon.