Fonterra shareholders watch performance after sale
Fonterra shareholders say they will be keeping an eye on their co-operative's performance after the sale of its consumer businesses.
Fonterra's outgoing chairman Henry van der Heyden has used his final speech as chairman to thank farmer shareholders for their support.
"You have all been a source of constant strength and motivation, especially during the harder yards," he told Fonterra's annual meeting in Hamilton today.
"But every one of those hard yards has been worth it. It was always my goal to hand over a strong, successful cooperative with a great future ahead of us. With your support and your commitment to make the bold calls when they matter most, I truly believe we've got there. Thank you. It has been a privilege."
Van der Heyden also thanked co-op directors, his wife Jocelyn, his family and the wider Fonterra family. He said right through his chairmanship, shareholders rewarded him with their trust.
"Your trust brings huge responsibilities with it. I've been very aware of that from the very first time I was elected as a director nearly 20 years ago. I have always seen it as shareholders giving me a very specific job, along with a clear message they will also hold me accountable.
"The job you gave me was always to do what's right for our cooperative. It has been to always look one step ahead for the opportunities to make us stronger, bigger, more profitable and truly global. And it has been to ensure we turned those opportunities into reality.
"I have had good role models for this job, starting with my parents. They were ambitious for our family, seeing opportunities for us to do better, even if it meant moving us half way across the world. They taught all of us kids to be ambitious for ourselves, because they knew that if you coast along, you will get left behind. Jocelyn and I have passed the same values on to our family – because like our parents, we want them to do better than we've done."
Fears of a serious early drought in Hawke’s Bay have been allayed – for the moment at least.
There was much theatre in the Beehive before the Government's new Resource Management Act (RMA) reform bills were introduced into Parliament last week.
The government has unveiled yet another move which it claims will unlock the potential of the country’s cities and region.
The government is hailing the news that food and fibre exports are predicted to reach a record $62 billion in the next year.
The final Global Dairy Trade (GDT) auction has delivered bad news for dairy farmers.
One person intimately involved in the new legislation to replace the Resource Management Act (RMA) is the outgoing chief executive of the Ministry for the Environment, James Palmer, who's also worked in local government.

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