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OPINION: This old mutt suggests that Fonterra farmers may well have been a little too distracted by a high payout this year to see - or even notice- the exploding salary at the co-op.
According to excellent analysis recently done by BusinessDesk's Jenny Ruth, the number of Fonterra executives earning over $500k a year fell by 12 in the last year to 96.
However, this followed a 35.7% increase in the same salary bracket a year earlier.
Meanwhile, during the past year 1,052 more Fonterra employees are now 'earning' $100k or more a year - taking the total to 8,440 people.
Ruth is scathing about this jump in the salary bill saying: "The Fonterra gravy train keeps chugging along as its farmers, who are supposed to own the joint, appear oblivious to how much of the cream they produce is being hijacked by the executives". Ouch!
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.
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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.
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