Fonterra unveils divestment plan
Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
The Fonterra Shareholders Council admits that it its communication strategy during the TAF process was not up to scratch.
Council chairman Ian Brown says while farmer effort throughout the TAF process was remarkable, the council has had time to review its own performance.
"Communications stands chief among these and farmers have told us that the council did not get this right," he told the co-op annual meeting in Hamilton today.
"Over the next 12 months improvement in this area will be major focus, and we will endeavour to provide you, as the owners of Fonterra, with timely, accurate and relevant communications," Brown told shareholders.
However, he says at the same there is an obligation for all shareholders to take time to read and understand the relevant financial and other documents available to them and provide feedback to councillors.
"This information becomes vital as we move forward under a new capital structure and the council more closely monitors the business and delivers shareholders the resulting financial information as is our obligation."
Brown assured shareholders it will protect farmers' interests, and work to ensure the board meets its stated goals, and is held accountable for them.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.