Winston Peters calls Fonterra vote result 'utter madness'
New Zealand First leader and Foreign Affairs Minister Winston Peters has blasted Fonterra farmers shareholders for approving the sale of iconic brands to a French company.
FORMER Fonterra chairman Henry van der Heyden will sign off his 21-year stint in dairy industry governance on May 31.
Van der Heyden’s final act as a Fonterra director will be at Tokoroa, where he was first elected a director of NZ Dairy Group in September 1992, where local farmers will farewell him at a function on May 29.
Van der Heyden attended his final board meeting at Fonterra last week. He served as Fonterra chairman for 10 years and stepped down in December last year.
He says a lot has been achieved during his involvement in dairy industry governance – the consolidation of dairy companies in the 1990s, the formation of Fonterra in 2011 and the launch of TAF to remove the co-op’s redemption risk. “I think Fonterra is in a much better shape today,” he told Rural News.
Van der Heyden, who remains a Fonterra shareholder via his family farming interests in Putaruru, believes it will remain a strong farmer-owned co-op for the next few generations at least. “There is a strong cooperative ethos in Fonterra. The new chairman and chief executive fundamentally agree with the co-op status.”
TAF, which allows investors to buy units in Fonterra shares, has been van der Heyden’s signature achievement. But some Fonterra shareholders strongly opposed ceding control of share units to outside investors.
Under TAF, unit prices in Fonterra shares have topped $8 after being launched at $5.50 late last year. Some farmers complain the high share price makes it difficult for them to buy shares to match increased milk production.
Van der Heyden is urging patience. “Let’s wait and see. It’s still early days,” he says. “Fonterra now has a solid foundation to pursue its growth strategy. This wasn’t possible with capital washing in and out of the co-op.”
Van der Heyden last week addressed 500 shareholders at its annual networkers’ conference in Hamilton. He stressed that Fonterra’s future is cemented in strong governance.
“I told them when I started out 21 years ago; I did not know what governance was. I joined NZDG at a young age and there was a lot to learn. Most of those at the network conference know more about governance than I knew 21 years ago.”
He urged young Fonterra farmers to be part of “this special co-op – to become actively involved and committed to Fonterra.”
“I’m Fonterra through and through. Nothing’s going to change that.”
Acclaimed fruit grower Dean Astill never imagined he would have achieved so much in the years since being named the first Young Horticulturist of the Year, 20 years ago.
The Ashburton-based Carrfields Group continues to show commitment to future growth and in the agricultural sector with its latest investment, the recently acquired 'Spring Farm' adjacent to State Highway 1, Winslow, just south of Ashburton.
New Zealand First leader and Foreign Affairs Minister Winston Peters has blasted Fonterra farmers shareholders for approving the sale of iconic brands to a French company.
A major feature of the Ashburton A&P Show, to be held on October 31 and November 1, will be the annual trans-Tasman Sheep Dog Trial test match, with the best heading dogs from both sides of the Tasman going head-to-head in two teams of four.
Fewer bobby calves are heading to the works this season, as more dairy farmers recognise the value of rearing calves for beef.
The key to a dairy system that generates high profit with a low emissions intensity is using low footprint feed, says Fonterra program manager on-farm excellence, Louise Cook.

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