Expert Says Fonterra Backing Current Strategy With New CEO Appointment
The appointment of Richard Allen as Fonterra's new chief executive signals execution, not strategy, according to agribusiness expert Dr Nic Lees.
Fonterra Shareholders Council chairman, Simon Couper is concerned over the level of voting. He says it’s time for shareholders to ensure the directors and councillors they want to represent their interests are supported by getting out and voting in numbers.
“There has been a lot of talk in recent times about ownership and control of our co-op. Voting for our directors is our ultimate control right yet participation in director elections continues to fall,” he says.
This year’s director and council elections are one of the biggest in the 10 year history of the cooperative. Despite this we have, to date, one of the lowest voter turnouts ever, says Couper.
“We want to maintain ownership and control of ourco-op; therefore we must take responsibility and provide the mandate for our directors to run it.
“I urge all farmers to demonstrate your rights and have your say in the future of Fonterra.”
Voting closes at 10.30am on Tuesday, November 15 and results will be announced later that day.
