Solid third quarter result for Fonterra
Fonterra has announced an improved third quarter performance – with a profit after tax of $1.15 billion, up $119 million on the same period last year.
Rae says as well as being focused on farming excellence and driving improved financial performance, there is potential for the organisation to play a greater role in making a real difference for New Zealand.
"This includes developing farm system solutions that help agriculture's transition to meet the evolving expectations of consumers, society, and regulators."
Rae was appointed earlier this month and replaces Dr Warren Parker who passed away in December last year.
He is chairman of Gisborne Holdings Ltd, Te Rāhui Herenga Waka Whakatāne, Abodo Wood Ltd, Thos. Corson Holdings Ltd, Crown Regional Holdings Ltd and director of Bremworth Ltd, and Midland Fund Management Ltd, and has previously held a wide range of directorships including as a foundation member of the Provincial Growth Fund.
Alongside Rae, the Government has also appointed Sarah Paterson as a director.
Pāmu chief executive Mark Leslie says it's great to have these appointments confirmed "so we can move forward confidently and in a clear direction".
"I've already spoken to Rae about the focus Pāmu has on enhanced performance and the strategic role Pāmu plays within the New Zealand farming sector and the opportunity for the company to work across government and in partnership with the agriculture sector for the benefit New Zealand Inc."
Acting chair Nigel Atherford says that Rae comes to Pāmu with solid experience in the rural sector and a sound understanding of the opportunities and challenges Pāmu faces.
"He has a strong commercial background that will support the Pāmu strategy and the team's increased focus on performacne," says Atherford.
"Sarah Paterson has a background in agricultural and trade policy, with a focus on the primary industries, and works on strategic projects across the dairy, red meat and horticulture sectors. I am delighted to welcome both John and Sarah to the board and look forward to working with them," Atherford says.
Paterson is a director of Blue Circle Consulting Ltd, the New Zealand Meat Board, Kiwifruit New Zealand, New Zealand Trade and Enterprise, and InterWeave Ltd. She is also an independent board member of the Army Leadership Board and co-founder of Global Trade Insights.
