Expert Says Fonterra Backing Current Strategy With New CEO Appointment
The appointment of Richard Allen as Fonterra's new chief executive signals execution, not strategy, according to agribusiness expert Dr Nic Lees.
Last year two farmer nominated candidates won seats ahead of candidates (including one sitting director) endorsed by the Fonterra board and shareholders council. The board anointed candidates also had the blessing of the independent selection panel.
But farmers disregarded that and voted for two self nominated candidates. Two sitting directors are standing again this year.
