There could be another dairy health scare brewing in China and this one starts in our backyard.
Displaying items by tag: Theo Spierings
Fonterra farmers are confident their co-op was right in issuing a precautionary recall of infant formula four years ago.
While Fonterra’s first quarter revenue is up 4% on the same period last year, sales volumes are down 20% to 3.9 billion liquid milk equivalent (LME).
Fonterra has lowered its forecast earnings per share following a ruling against it in favour of Danone for $183 million in damages.
Danone has been awarded damages from Fonterra Co-operative Group totaling $183 million – fall-out from Fonterra’s product recall of 2013.
Fonterra Co-operative Group Limited has requested an immediate trading halt to be applied to their securities on the ASX, the NZX and the Fonterra Shareholders Market.
In reflecting on the salary package/bonuses paid to Theo Spierings in the past season it is important to understand that the Fonterra business is owned by shareholders who empower a board to act on their behalf.