Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
SOUTH CANTERBURY dairy farmer Leonie Guiney received a phone call last Monday afternoon confirming her election to Fonterra’s board.
Congratulations started flowing in next day when Guiney and her husband Kieran hosted 230 farmers at a field day on their home farm in Fairlie for finishing second in a dairy business competition.
Guiney says most farmers in the region quickly learned of her win. “The bush telegraphs works pretty well in the dairy industry so it was on fire,” she told Rural News. “I am humbled and stoked by the win.”
Guiney, an outspoken Fonterra shareholder, finished a strong second in the election of three directors. Rural News understands sitting director John Monaghan got the most votes, followed closely by Guiney.
Taranaki farmer and sitting director David McLeod finished third, ahead of unsuccessful candidates Gray Baldwin, Grant Rowan and Garry Reymer.
Guiney and husband Kieran milk 3000 cows and supply 1 million kgMS to Fonterra. She is a champion of the co-op model, having taken Fonterra’s board and management to task over TAF and other financial issues.
Guiney says she spoke out on issues because she is passionate about the future of the co-op. “And I have seen that as a strength…. I’m sure a strong board will have robust discussion and debate on the industry and future of the co-op. I struggle to see how that can be seen as a problem in a strong and effective board.”
But Guiney says she has no intention of “revisiting the concerns of the past”. “However, I will always be asking good questions in the interest of farmers.”
Addressing the Fonterra annual meeting in Palmerston North last week, she called the co-op to improve two-way engagement with shareholders.
Despite having issues with Fonterra’s management, farmer shareholders were committed to the co-op, she says. “They are committed as long as they get a hearing.”
Guiney remarks on farmers leaving the co-op in parts of the South Island to supply other processors.
She insists the co-op has a responsibility to reward loyal farmers “with a milk price and an opportunity to improve engagement. Committed farmers are our future and we must never forget that.”
Guiney will attend her first Fonterra board meeting early next month.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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