Wednesday, 25 November 2015 13:53

Motion to reduce Fonterra board gets majority support

Written by Pamela Tipa

font size decrease font size increase font size
Print
Email

A proposal to reduce Fonterra's board to nine has received over 50% support from shareholders.

While shareholders at the annual meeting in Waitoa are yet to cast their votes, 54.4% of votes received before 10am on Monday supported the motion.

Former Fonterra directors Colin Armer and Greg Gent spoke in favour of the motion at the meeting today. However, it will not reach the 75% threshold required to change the constitution.

Fonterra's board and the Shareholders Council are opposing the motion.

More to come

More like this

Keeping cyber attacks at bay

Keeping cyber attacks at bay

Fonterra says it takes the ongoing threat of 'adverse cyber action' extremely seriously.

Fonterra on track for divestment despite global market turmoil

Fonterra on track for divestment despite global market turmoil

Despite the turmoil in global markets, Fonterra is continuing with a dual track process to divest its multi-billion dollars consumer businesses.

US remains important market - Fonterra

Fonterra says the US continues to be an important market for New Zealand dairy and the co-op.

Coutts appointed chair-elect of Mainland Group

Fonterra has named Elizabeth (Liz) Coutts the chair of Mainland Group, the proposed divestment entity of the co-operative’s consumer business.

Fonterra results inspire confidence among farmers

Fonterra farmers are pleased with their co-operative's interim results, says Co-operative Council chair John Stevenson.

Popular Reads

Farmlands and Barkers partner on new range

Rural retailer Farmlands has launched a new casual clothing range available across 42 stores nationwide and through its online store.

'Our leaders are betraying farmers'

OPINION: New Zealand farmers have been sold out, not just by the Government but by our own industry leaders.

Top farm consultant predicts early end to Waikato dairy season

A leading farm consultant says it's likely the dairy season in the Waikato will come to a premature end because…

Farmlands launches casual clothing range

Rural trader Farmlands has launched an exclusive new casual clothing range across its 42 stores nationwide and online.

Plummeting sales forces C-Dax to cease trading

Farmer-owned co-operative Ravensdown is winding down the operations of its agritech subsidiary C-Dax following a long decline in sales.

Featured

Feed help supplements Canterbury farmers meet protein goals

Two high producing Canterbury dairy farmers are moving to blended stockfeed supplements fed in-shed for a number of reasons, not the least of which is to boost protein levels, which they can’t achieve through pasture under the region’s nitrogen limit of 190kg/ha.

South Island rural property market gains momentum amid strong milk price outlook

Buoyed by strong forecasts for milk prices and a renewed demand for dairy assets, the South Island rural real estate market has begun the year with positive momentum, according to Colliers.

Holstein Friesian NZ: Young breeders begin development journey

The six young cattle breeders participating in the inaugural Holstein Friesian NZ young breeder development programme have completed their first event of the year.

NZ feed producers urged to boost staff training for quality and efficiency

New Zealand feed producers are being encouraged to boost staff training to maintain efficiency and product quality.

Editorial: Taming Trump

OPINION: The world is bracing for a trade war between the two biggest economies.

Co-existence with genetic modification 'possible'

Co-existence of genetically modified (GM) and non-GM plants in New Zealand industries will be challenging, but is achievable, a review has found.

National

Fert co-op extends fixed price offer

Ballance Agri-Nutrients is expanding its fixed price offer to help customers manage input costs with greater certainty over the coming…

Govt mandates wool carpets, boosting farmers and manufacturers

Farmers and wool carpet manufacturers are welcoming a Government decision to use wool fibre products in the construction and refurbishment…

Will India ink a free trade agreement with NZ?

Beef+Lamb New Zealand (B+LNZ) has welcomed the New Zealand Government's announcement that comprehensive free trade agreement (FTA) negotiations have formally…

NZ-India free trade talks facing dairy dilemma

Exports of dairy products will be included in the negotiations New Zealand has with India on a free trade agreement.

Silver Fern Farms CEO sees better days ahead

Despite Silver Fern Farms (SFF) posting a $21 million loss last season, chief executive Dan Boulton believes that better days…

Machinery & Products

Buhler name to go

Shareholders at a special meeting have approved a proposed deal that will see Buhler Industries, the publicly traded Versatile and…

Awards celebrate rural sports talent

At a gala evening held at Palmerston North in March, the sporting and rural communities came together to celebrate the…

Penta mixer wagons offer spec, quality

Released into New Zealand in 2024, Penta mixer wagons are set to find favour with users who are looking for…

First KV Qualidisc 21000T harrow heads

Taking up a considerable portion of the Power Farming site at the recent South Island Agricultural Field Days near Christchurch,…

Grabbing bales made quick and easy

Front end loader and implement specialist Quicke has introduced the new Unigrip L+ and XL+ next-generation bale grabs, designed for…

» Latest Print Issues Online

dairynewscover

ruralnewscover

winegrowercover

The Hound

Risky business

OPINION: In the same way that even a stopped clock is right twice a day, economists sometimes get it right.

Should've waited

OPINION: The proposed RMA reforms took a while to drop but were well signaled after the election.

» Connect with Rural News

RSS Facebook Twitter

» eNewsletter