Fonterra slashes forecast milk price, again
Fonterra has slashed another 50c off its milk price forecast as global milk flows shows no sign of easing.
Former Fonterra chairman John Monaghan, who stepped down from the co-op this month, academic Nicola Shadbolt, who served as a Fonterra director for nine years and Lachie Johnstone, who served as the inaugural chairman of Farmlands Co-operative, received awards.
Co-operative Business New Zealand chief executive Roz Henry says the Outstanding Co-operative Contribution Award recognises individuals who have contributed significantly to the success of the sector over the long-term.
Johnstone was chairman of the North Island-based Farmlands Trading Society when it merged with the South Island-based CRT Co-operative in 2013.
Henry says Johnstone has been a champion for the co-operative model.
“He is someone who has upheld the co-operative principles and this was particularly evident during the formation of Farmlands, when he was truly focused on ensuring the new co-operative was based on the core values of the model and that the structure would provide a livelihood for members. “He has also been a key advocator in ensuring the development of governance skills and capability across the sector.”
Shadbolt, a Massey University, is a staunch advocate for the co-operative model.
Henry says she is a trailblazer who has worked incredibly hard to achieve long-term, sustainable change.
“For Cooperative Business New Zealand, she played a key role in enabling the first piece of research to be undertaken by Massey University to gain clarity around the value of the Co-operative Economy to New Zealand.
“This work was incredibly important to the sector and has been a cornerstone in enabling discussions with the Government and regulators.”
Monaghan was nominated for the award by a group of Fonterra shareholders without his knowledge.
“John is to be admired for his determination and commitment to lead Fonterra through a significant period of transition,” says Henry.
“It was a hefty responsibility and seeing the co-operative return to a position of profitability is a fantastic way to complete his tenure.”
