Fonterra shareholders back new governance model, allowing farmer nominations to board

Tue, 11 Oct 2016

By Sophie Boot Oct. 12 (BusinessDesk) - Fonterra Cooperative Group's shareholders have voted in favour of a new governance and representation model, with the key change being farmers can directly nominate their own choice for selection to the board. Earlier this year a proposed change failed to get the required 75 percent majority vote needed. The reform would have been the first in 15 years for the dairy cooperative’s governance model, though just under 64 percent voted for a long-awaited review. The new changes reduce the size of the...

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