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.
Fonterra's board has established the WPC80 Inquiry Committee, and charged them to oversee an independent review into the circumstances giving rise to the affected whey protein concentrate (WPC80) and subsequent chain of events.
Board chairman John Wilson says he has complete confidence that Fonterra's chief executive, Theo Spierings, had made the right decisions and is continuing to do everything to manage this complex issue, but that there are serious lessons that need to be learnt.
"It is critical that we identify these lessons quickly so our farmers, governments, customers, consumers and unit holders can again have full confidence in Fonterra and its products," says Wilson.
"With this in mind, the board has confirmed the committee will be chaired by independent director, Sir Ralph Norris, and will include two external independent members who are not Fonterra board members."
The committee is comprised of:
• Sir Ralph Norris (chair) – independent director
• Simon Israel – independent director
• Dame Judith Potter – external independent member
• Blue Read – farmer elected director
• Nicola Shadbolt – farmer elected director
• John Waller – independent director
An eminent and respected scientist will also be appointed to the committee over the coming days as the second independent member.
Commenting specifically on Dame Judith Potter, a retired High Court judge and fellow of the New Zealand Institute of Directors, Wilson says her appointment to the committee demonstrates the cooperative's commitment to a full and independent inquiry.
"Dame Judith brings with her a breadth of legal, judicial and board experience, and a reputation for being decisive and commercially astute."
The committee has appointed Jack Hodder, QC of Chapman Tripp, to undertake the review into the events leading up to and following the WPC80 concerns. Hodder will report back to the committee.
As part of this, Hodder will have access to all necessary independent experts and advisers, and the WPC80 Inquiry Committee is currently seeking an internationally recognised industry expert on the manufacturing and safety of foods to work alongside Hodder.
"The inquiry will start immediately and it is the board's intention to have it completed within six weeks. However, the emphasis will be on a full and thorough investigation.
"The board has given the committee a far-reaching remit. It will not only review the circumstances and principle decision points relating to the affected WPC80 product, it will also look more broadly at Fonterra's business procedures, systems and practices," Wilson says.
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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