increase font size
Fonterra is now an $18 billion global business.
Fonterra chairman John Wilson says the co-op is providing a new level of transparency to shareholders about the business.
He told the annual meeting in Waitoa last week that it was providing clear reporting on each business – ingredients, consumer and food service and international farming.
Wilson says in any season some parts of the co-op may perform better than others, "just as some farmers are more productive than others on a year-to-year basis".
"We can see clearly where we are doing well and the steps we are taking where performance needs improvements," he says.
"We are enabling shareholders to better understand the business."
Wilson says reporting performance quarterly, as has happened this month, added further to this transparency.
Fonterra is now an $18 billion global business.
TAF (trading among farmers) is now part of the business; ownership and control by shareholders is as strong as ever, as shown by the record voter turnout last week.
Wilson notes Fonterra has stood its ground in the face of competition.
"We produce 85% of the milk in New Zealand, we have a stable milk supply base and our shareholder numbers continue to increase."
During general discussion at the meeting Wilson admitted the co-op had "dropped the ball" in its communications with shareholders. Wilson said that informing farmers earlier this year about new PKE usage limits was one such example.
He says the co-op must get its communications better and this is in the front of mind of management.
Former King Country MP Shane Ardern told the meeting that the co-op was unable to take stakeholders along on its strategy "in these turbulent times".
"We definitely have communication issues," Ardern told the meeting. "We have to do better in our public relations department."
Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
OPINION: Farmer shareholders of two of New Zealand's largest co-operatives have an important decision to make this month and what they decide could change the landscape of the dairy and meat sectors in New Zealand.
OPINION: As CEO of the Dairy Board in the 1980s I was fortunate to work with a team of experienced and capable executives who made most of the brand investments that created the international consumer business Fonterra inherited. Soprole in Chile was the largest, but there were more than 20 countries where consumer marketing companies were established and Anchor and other brands were successfully launched.
Fonterra has delivered a fifth straight year of record organic milk price for farmer suppliers.
Fonterra says favourable weather conditions supporting pasture growth is boosting milk production.
Like many manufacturers around the world, European agricultural machinery and tractor manufacturers are currently operating in a difficult market environment. But they are heading to the world’s largest agricultural machinery event in Hanover next month with a degree of cautious optimism.
Established in 2021, the John Deere Technician of the Year Awards champion the important contribution parts and service technicians make to the Australian and New Zealand agriculture, construction and forestry industries.
Beef + Lamb New Zealand (B+LNZ) is calling on farmers from all regions to take part in the final season of the Sheep Poo Study aiming to build a clearer picture of how facial eczema (FE) affects farms across New Zealand.
New Zealand is closer to eradicating bovine TB than ever before, but possums remain a threat, says Beef + Lamb New Zealand.
Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
The ACT Party says media reports that global dairy giant Nestle has withdrawn from the Dairy Methane Action Alliance shows why New Zealand needs to rethink its approach to climate.
OPINION: Ageing lefty Chris Trotter reckons that the decision to delay recognition of Palestinian statehood is more than just a fit…
OPINION: A mate of yours truly recently met someone at a BBQ who works at a big consulting firm who spent…
