A Year of Delivery for Fonterra
Fonterra’s 2026 financial year was a year of delivery, with record volumes of milk collected, processed and shipped by the co-op.
To be fair, about the same time he resigned, advisory firm TDB had calculated that the 'mega merger' that formed Fonterra delivered dairy farmers less than 2.5% annual compound growth in revenue - well short of the 15% industry leaders had pitched to cockies pre-2001.
However, when Spierings departed, with nary a word, but with full pockets, the co-op faced a 20% drop in share value and a $196m loss for 2018, plus a forecast loss for 2019 that turned out to be a massive $605m loss.
