Fonterra appoints new CFO
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.
Fonterra Shareholders' Council chairman, Ian Brown, says farmers' take-up of the latest Fonterra Supply Offer shows they are beginning to take advantage of the flexibility Trading Among Farmers (TAF) offers them.
Twenty per cent of Farmers sold close to $600 million worth of the economic rights to their Wet Shares, Brown says.
"The first supply offer saw farmers exercise some understandable caution but with growing confidence in the new system farmers are now ready to use TAF as it was intended.
"The solid level of demand from shareholders to release some of the economic value of their shares shows they are using TAF to their benefit.
"Farmers are taking advantage of the greater flexibility it offers them in making decisions that impact the day-to-day running of their business.
"This also strengthens our cooperative as Fonterra is now able to make better use of our capital rather than, as the recent drought would have compelled it to, distribute it as farmers redeemed their shares."
The low unemployment environment is one of the key factors driving on-farm salaries higher over the past 24 months, says Rabobank general manager for country banking Bruce Weir.
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.
A seminar on rural dispute resolution has been organised at Lincoln University, Christchurch this month.
The legacy of Dr Peter Snow continues to inspire as the recipients of the 2023 and 2024 Peter Snow Memorial Awards were announced at the recent National Rural Health Conference.
One of Fonterra’s global customers, Mars is launching an ambitious sustainable dairy plan to work with dairy farmers and cut emissions by 50%.
Beef + Lamb New Zealand chief executive for the past eight years, Sam McIvor is heading for new pastures at Ospri, which runs NZ’s integrated animal disease management and traceability service.
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