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

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

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.

Winston's crusade

OPINION: A short-term sugar hit. That's what NZ First leader Winston Peters is calling the proposed sale of Fonterra's consumer and associated businesses.

Fonterra executive named new Massey University vice chancellor

When Professor Pierre Venter takes up his new role as vice chancellor at Massey University next February it will just be a matter of taking a few steps across the road to get to his new office at the Palmerston North Campus.

Survey shows most Fonterra farmers plan to use capital return for debt reduction

A large slice of the $3.2 billion proposed capital return for Fonterra farmer shareholders could end up with the banks.

Fonterra’s $3.2b capital return to farmers set to boost rural incomes and NZ economy

According to ASB, Fonterra's plan to sell it's Anchor and Mainlands brands could inject $4.5 billion in additional spending into the economy.

Featured

Dean Astill reflects as Young Horticulturist of the Year comp turns 20

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.

Carrfields invests in new Ashburton R&D hub

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.

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.

Elite sheep dogs to go head-to-head at Ashburton A&P Show

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 as dairy farmers shift to beef breeding

Fewer bobby calves are heading to the works this season, as more dairy farmers recognise the value of rearing calves for beef.

Low-footprint feed drives high-profit, low-emissions dairy

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.

National

Tributes paid to Jim Bolger

Dignitaries from all walks of life – the governor general, politicians past and present, Maoridom- including the Maori Queen, church…

Todd McClay urges farmers to prioritise safety amid storm

Agriculture and Forestry Minister, Todd McClay is encouraging farmers, growers, and foresters not to take unnecessary risks, asking that they…

Royal A&P Show Returns to Canterbury: Record livestock entries and renewed prestige

The Royal A&P Show of New Zealand, hosted by the Canterbury A&P Association, is back next month, bigger and better…

Farmers Lead Sustainability Push: Woodchip bioreactor cuts nitrate runoff in Manawatu

Claims that farmers are polluters of waterways and aquifers and 'don't care' still ring out from environmental groups and individuals.…

MPI’s Diana Reaich: Building global trade relationships

Relationships are key to opening new trading opportunities and dealing with some of the rules that countries impose that impede…

Machinery & Products

Case IH's expanded Optum Series shorter, lighter and faster

Currently available in New Zealand in 250, 270, 300 and 400 horsepower options, Case IH’s Optum Series is being readied…

Kubota to start field testing robotic tractor

Kubota has announced plans to start field testing the autonomous hydrogen powered fuel cell tractor it recently unveiled at Expo…

New player set to enter SP Mower market

While the Krone Big M has set the standard for many years, sources close to Rural News, with an ear…

US tariffs hit European ag machinery markets

The climate of uncertainty and market fragmentation that currently characterises the global economy suggests that many of the European agricultural…

Claas unveils next-generation large square baler concept ahead of Agritechnica 2025

Innovation awards at international agricultural events are always on the wishlist of manufacturers.

Motion to reduce Fonterra board gets majority support

More like this

Winston Peters calls Fonterra vote result 'utter madness'

Winston's crusade

Fonterra executive named new Massey University vice chancellor

Survey shows most Fonterra farmers plan to use capital return for debt reduction

Fonterra’s $3.2b capital return to farmers set to boost rural incomes and NZ economy

Popular Reads

Fonterra to boost UHT cream production with $150m plant

Bold taste wins gold medal

Pamu and LIC to launch Synergizer

Divestment means Fonterra can focus on its strengths

Rising energy prices put NZ meat processing industry under pressure

Featured

Dean Astill reflects as Young Horticulturist of the Year comp turns 20

Carrfields invests in new Ashburton R&D hub

Winston Peters calls Fonterra vote result 'utter madness'

Elite sheep dogs to go head-to-head at Ashburton A&P Show

Fewer bobby calves as dairy farmers shift to beef breeding

Low-footprint feed drives high-profit, low-emissions dairy

National

Tributes paid to Jim Bolger

Todd McClay urges farmers to prioritise safety amid storm

Royal A&P Show Returns to Canterbury: Record livestock entries and renewed prestige

Farmers Lead Sustainability Push: Woodchip bioreactor cuts nitrate runoff in Manawatu

MPI’s Diana Reaich: Building global trade relationships

Machinery & Products

Case IH's expanded Optum Series shorter, lighter and faster

Kubota to start field testing robotic tractor

New player set to enter SP Mower market

US tariffs hit European ag machinery markets

Claas unveils next-generation large square baler concept ahead of Agritechnica 2025