Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
Five director candidates (Donna Smit, Michael Spaans, Eric Ray, Malcolm Bailey and Ian Farrelly) are vying for three seats at Fonterra's top-table, with voting closing at 10.30am on Monday, November 25.
Brown says it is vital that shareholders take the responsibility to make an informed decision to benefit Fonterra farmers now and the next generation to come.
"This means electing to our board the candidates with the mix of governance skills, ability and experience that will enable Fonterra to continue to succeed in the global marketplace in which it operates."
Brown says it is encouraging that farmers are participating in the elections and it is important to build on the excellent voter turnout seen in the past couple of years.
"Fonterra farmers are incredibly passionate about ensuring 100% supplying shareholder ownership and control of their co-op.
"Voting in the Fonterra elections is farmers' key control right and it is important that we not only exercise this right but do so in the best interests of all shareholders.
"With well over 50% of total Fonterra votes held by shareholders who supply less than 200,000 kgMS annually all farmers need to know that their vote counts."
Voting for the directors' and the shareholders council elections (Wards 8 and 21) closes at 10.30am on Monday, November 25, 2013 with the results announced later that day.
Shareholders can vote by internet, fax or post, using the Single Transferable Vote (STV) system.
Three seats on the Fonterra board will be contested.
The director candidates are: Donna Smit, Michael Spaans, Eric Ray, Malcolm Bailey and Ian Farrelly.
Two seats on the Shareholders Council will be contested in Ward 8 Hamilton and Ward 21 Coastal Taranaki.
Ward 8 Hamilton: Bruce Haultain, Grant Coombes and Ross Wallis
Ward 21 Coastal Taranaki: Lloyd Morgan and Vaughn Brophy
