US remains important market - Fonterra
Fonterra says the US continues to be an important market for New Zealand dairy and the co-op.
Over 600 farmer meetings were held during the review process.
Wilson thanked farmers for supporting the changes, including reducing the board size from 13 to 11. Final voting figures show 85.96% support among farmers. The co-op needed at least 75% farmer shareholders support.
A proposal to revamp the Fonterra Shareholders Council was passed with 88% support.
Wilson says farmers have had a lot on their plate over the past two years. Low milk prices and weather have made life challenging on farm.
“I thank farmers for their efforts.”
He also thanked Shareholders Council members and area managers for their efforts.
Just over 50% of Fonterra farmers cast their votes.
