Fonterra trims board size
Fonterra’s board has been reduced to nine - comprising six farmer-elected and three appointed directors.
Apparently, your canine crusader’s mate was recently sharing a flight with a couple of the dairy co-op’s directors and noticed that one of the newly elected board members was engrossed in reading a fancy management book.
However, the Hound’s spy reckons that although the management book might get the co-op’s board up with the latest corporate buzzwords like ‘good to great’, ‘getting on the bus’ and ‘strategic management’, Fonterra directors would be better employed learning how to read budgets and how to minimise costs and maximize profit.
