Thursday, 24 May 2012 16:08

TAF trouble as Couper quits

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In a blow to Fonterra's trading among farmers (TAF) proposal, Simon Couper has resigned his position as Chair of the Fonterra Shareholders' Council effective immediately.

Couper's unexpected resignation came about due to his "lack of comfort with some aspects of the Trading Among Farmers proposal".

The Council today endorsed Council's Deputy Chair, Ian Brown to move into the position of Chair.

Fonterra has had trouble quelling unrest among its shareholder base about the detail of TAF and has already had to take it back to a second vote, which is due in June. Couper's departure will be seized upon by the TAF opponents that Fonterra has positioned as "a vocal minority".

As statement issued by Couper's replacement, Ian Brown, simply says "the Council would like to thank Simon for the dedication he brought to the Council over the past eight years."

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