Fonterra trims board size
Fonterra’s board has been reduced to nine - comprising six farmer-elected and three appointed directors.
Former Fonterra Shareholder Council chairman Duncan Coull has been elected as the new chair for Fertiliser co-operative Ballance Agri-Nutrients.
Current Ballance chair David Peacocke is stepping down as a director in September 2020 at the Annual Shareholders Meeting (ASM) – with Coull taking up the post after the ASM.
Peacocke is a Waikato farmer and businessman. He has been a Ballance director since 2005 and was elected as chair in 2013.
Coull is an Otorohanga-based dairy farmer and was elected on to the Ballance board in 2018.
“Our relationships with everyone from shareholders and customers to suppliers and regulators are extremely important to the success of our company and the agricultural sector,” he says.
“Our farmers continue to adapt and rise to the challenge of increasing expectations of our consumers and communities, while at the same time making sure they are operating sustainably and optimising profitability.”
Fonterra’s board has been reduced to nine - comprising six farmer-elected and three appointed directors.
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The horticulture sector is a big winner from recent free trade deals sealed with the Gulf states, says Associate Agriculture Minister Nicola Grigg.
Fonterra shareholders are concerned with a further decline in the co-op’s share of milk collected in New Zealand.
A governance group has been formed, following extensive sector consultation, to implement the recommendations from the Industry Working Group's (IWG) final report and is said to be forming a 'road map' for improving New Zealand's animal genetic gain system.
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