Fonterra farmers 'should be pleased with progress' after record loss, says chair

By Paul McBeth | Thu, 07 Nov 2019


Fonterra Cooperative Group’s new strategy of extracting maximum value from local milk pools appears to have the backing of its farmer shareholders for now.About 200 Fonterra shareholders made the trek to Invercargill for the company’s annual meeting, where the cooperative’s biggest loss and consequent plans to overhaul the business were the key themes.Chair John Monaghan and chief executive Miles Hurrell ran through the 2019 financial numbers that the Fonterra farmers were familiar with and outlined the new strategy ditching the pursuit of glob...