News | Rural
19 Mar 2024 19:54
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  •   Home > News > Rural

    Decisive action from Fonterra's shareholders after a poor year for the cooperative

    Decisive action from Fonterra's shareholders after a poor year for the cooperative


    Fonterra
    Fonterra
    The election for the Board of Directors has resulted in a former outcast, and critic of the cooperative's direction, being elected.

    Leonie Guiney is back in, after being pushed out last year, which ended up in a defamation claim with the co-op.

    JMI Wealth's Andrew Kelleher says shareholders also snubbed two candidates the existing board had recommended.

    He says shareholders have sent a message that the co-op needs a shakeup.

    Fonterra lost nearly 200-million dollars last year - its first ever net loss - and the CEO and board chairman left.

    © 2024 Newstalk ZB, NZCity

     Other Rural News
     13 Mar: Sheep and beef farmers are looking down the barrel of their worst year in 15 years
     07 Mar: Sheep and goat milk farmers are being left with few options as the sector grinds to a halt
     21 Feb: Dairy prices are up 0.5 percent at the latest Global Dairy Trade auction overnight
     12 Feb: Relief for dairy farmers as Fonterra increases its forecast Farmgate Milk Price - after a shaky end to last year
     07 Feb: Fonterra is still assessing whether rising global prices will push up its Farmgate Milk forecast
     07 Feb: Good news for dairy farmers at the latest Global Dairy Trade auction overnight
     17 Jan: Dairy prices are continuing to rise
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