Fonterra trims board size
Fonterra’s board has been reduced to nine - comprising six farmer-elected and three appointed directors.
Milking It understands that the family-owned business, based in Te Puke with farms in the Bay of Plenty, Central Plateau and Taumarunui areas, is sending some of its milk to Olam’s new factory in Tokoroa.
The plant, owned by Singaporean conglomerate Olam, has been signing up suppliers for the past year. The new milk plant is due to start processing milk later this year, Olam used to own a cornerstone stake in Open Country Dairy but sold it to the Talley’s Group, who own Open Country.
