Fonterra cements position as the big cheese!
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
Early voting figures showed more than 85% of farmer shareholders have approved reducing the board size to 11 — made up of seven farmer-elected and four independent directors.
About 100 farmer shareholders are attending a special meeting in Palmerston North today and will cast their votes soon.
Fonterra chairman John Wilson announced at the meeting that as at 10,30am today, 85.45% of farmers have voted in support.
The co-op needs 75% support to change its constitution.
The board’s last attempt to pass the changes attracted only 64% support.
