Keeping cyber attacks at bay
Fonterra says it takes the ongoing threat of 'adverse cyber action' extremely seriously.
Fonterra chair John Wilson says there has been “a complete misunderstanding” over the pay increase for the co-op’s chief executive.
Wilson says Theo Spierings’ base salary was frozen last month at his own request.
He says the $750,000 increase reported last month in its 2014-15 annual accounts was related to performance incentive payment for the previous year, when the payout to farmers was a record $8.40/kgMS.
Wilson, who attended farmer meetings with Spierings last week, says they were “front footing” the issue and explaining to farmers.
Many Fonterra farmers are struggling to make ends meet; low dairy prices have slashed farmgate returns.
Fonterra last week disclosed that Spierings earned between $4.93 million and $4.94 million in the year to July 31, 2015, up from $4.17m to $4.18m in the previous year.
The company does not disclose Spierings’ base salary, but it is understood to be close to $4m.
Wilson says the incentive payment to Spierings was made in October 2014, after the successful 2013-14 season.
“Although it was reported in the last financial year statements, the actual payment was made a year earlier,” he told Rural News.
He says Spierings and the management realise the challenging times faced by farmers.
“Theo came to the board sub-committee and asked that his salary be frozen for this year. It’s very unfortunate that this has been misrepresented in some media.
Recent rain has offered respite for some from the ongoing drought.
New Zealand's TBfree programme has made great progress in reducing the impact of the disease on livestock herds, but there’s still a long way to go, according to Beef+Lamb NZ.
With much of the North Island experiencing drought this summer and climate change projected to bring drier and hotter conditions, securing New Zealand’s freshwater resilience is vital, according to state-owned GNS Science.
OPINION: Otago farmer and NZ First MP Mark Patterson is humble about the role that he’s played in mandating government agencies to use wool wherever possible in new and refurbished buildings.
For Wonky Box co-founder Angus Simms, the decision to open the service to those in rural areas is a personal one.
The golden age of orcharding in West Auckland was recently celebrated at the launch of a book which tells the story of its rise, then retreat in the face of industry change and urban expansion.
OPINION: The appendage swinging contest between the US and China continues, with China hitting back with a new rate of…
OPINION: The irony of President Trump’s tariff obsession is that the worst damage may be done to his own people.