Data sharing initiative wins national award for saving farmers time
The work Fonterra has done with Ballance Agri-Nutrients Ltd, LIC and Ravensdown to save farmers time through better data connections has been recognised with a national award.
The proposal to reduce the size of the Fonterra board is one the co-op can no longer ignore say its proponents, Greg Gent and Colin Armer.
The proposal failed to meet the 75% support required to change the constitution but the level of support is a massive message to the board they say. Over 54% of shareholders backed the proposal.
"The Trading Among Farmers proposal got 66% support with millions spent so we are thrilled with the support we have received," says Armer.
"Something has to happen now. The whole thing disappeared three years ago but there is nowhere for the board to hide now."
Gent says the vote was a huge success.
"We had little resources and the company worked hard against us."
Armer said the big loser in this debate was the Shareholders Council.
"The shareholders council has been found wanting and totally misread farmers' views on the subject," he says. "Their criticism of our proposal was absurd.
"The resurrection of the governance review after three years was a last minute jack-up between the Council and the board which had only one purpose – to defeat our proposal," says Armer.
He says that the governance review is still inadequate.
"This upcoming review needs independence, experience, and farmer input into its Terms of Reference," he said. "Right now shareholders don't know the terms of reference and the review is being conducted by a group that lacks the experience or independence needed to make sure we get the right structures into the future."
Gent said that he and Armer had achieved what they wanted to.
"While we'd love to have got our proposal over the 75% line line we always knew that it was a huge mountain to climb," he said. "The company has far better resources than us to communicate with its 10,000 shareholders."
In spite of the result the pair is confident that the governance review will not be shelved for another three years. However they are not so sure that the review will result in a smaller board of directors.
"We will need to wait and see about that," says Armer.
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
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