Tuesday, 10 September 2019 08:55

No more cream at Fonterra

Written by  Staff Reporters
Fonterra chief executive Miles Hurrell. Fonterra chief executive Miles Hurrell.

Fonterra chief executive Miles Hurrell has told co-op employees that more work is needed to turn the business around.

“We are making good progress on our plan to turn our business around: we’re not there yet,” he said in an email to staff last week.

“Some tough calls are still needed to put us on the right path.”

Fonterra employees won’t be paid bonuses for the 2018-19 year. No salaried staff earning over $100,000 will get a pay rise in 2019-20.

A remuneration review will still occur for salaried employees earning under $100,000. Waged employees who are part of a collective agreement aren’t impacted.

Hurrell says this has been a tough call, but it’s also the right one. 

“Together as a cooperative we must do what’s right, working together to reset our business and get us back to a position where we can be proud of our financial performance.”

He thanked staff for their hard work in helping lift performance and reset the business.

More like this

Fonterra R&D: Innovation needs more than just PhDs

Common sense and good human judgement are still a key requirement for the super highly qualified staff working at one of New Zealand's largest and most important research facilities - Fonterra's R&D Centre at Palmerston North.

Misguided campaign

OPINION: Last week, Greenpeace lit up Fonterra's Auckland headquarters with 'messages from the common people' - that the sector is polluting the environment.

Featured

Horticulture exports hit $8.4B, surge toward $10B by 2029

A brilliant result and great news for growers and regional economies. That's how horticulture sector leaders are describing the news that sector exports for the year ended June 30 will reach $8.4 billion - an increase of 19% on last year and is forecast to hit close to $10 billion in 2029.

National

Machinery & Products

Calf feeding boost

Advantage Plastics says it is revolutionising calf meal storage and handling, making farm life easier, safer, and more efficient this…

JD's precision essentials

Farmers across New Zealand are renowned for their productivity and efficiency, always wanting to do more with less, while getting…

» Latest Print Issues Online

The Hound

Be afraid

OPINION: Your old mate hears some of the recent uptick in farmer confidence has slipped since the political polls started…

Trust us!

OPINION: Ther'es a reason politicians rank even lower than John Campbell in the most trusted profession surveys.

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter