fbpx
Print this page
Wednesday, 25 November 2015 14:38

Boards of 13 prehistoric, says Gent

Written by  Sudesh Kissun
Greg Gent with Earl Rattray and Harry Bayliss at the Fonterra AGM today. Greg Gent with Earl Rattray and Harry Bayliss at the Fonterra AGM today.

Former Fonterra director Greg Gent says boards of 13 are prehistoric.

Gent was commenting on early results showing over 54% support for a motion to reduce the size of the board to nine.

He thanked Fonterra shareholders for their support.

"Getting 54% support from a turnout of 73% (based on milk solids) is great," he says.

Gent says he will not be standing for the board again.

"Our motion has always been about a fitter and leaner board for shareholders."

The motion requires 75% support to change the constitution and will not achieve that.

About 300 Fonterra shareholders at the meeting have cast their votes and they are being counted; during debate it appeared that shareholders at the meeting were split almost 50/50 on the issue.

More like this

Misguided campaign

OPINION: Last week, Greenpeace lit up Fonterra's Auckland headquarters with 'messages from the common people' - that the sector is polluting the environment.

Aussie farmers get A$8.60/kgMS as opening milk price

Australian dairy farmers supplying Fonterra are getting an opening weighted average milk price of A$8.60/kgMS for the new season or around NZ$9.26/kgMS -  NZ74c less than New Zealand suppliers, based on the current exchange rate.

Featured

Top innovators announced

The Fieldays Innovation Award winners have been announced with Auckland’s Ruminant Biotech taking out the Prototype Award.

National

Machinery & Products

Calf feeding boost

Advantage Plastics says it is revolutionising calf meal storage and handling, making farm life easier, safer, and more efficient this…

JD's precision essentials

Farmers across New Zealand are renowned for their productivity and efficiency, always wanting to do more with less, while getting…