Fonterra steers clear of consultants after paying millions to McKinseys

By Nikki Mandow Sept. 20 (BusinessDesk) - Fonterra Cooperative Group will not use external consultants for its newly-announced everything-on-the-table asset review, the dairy processor says. This follows allegations it paid up to $100 million a year between 2015 and 2017 to global consultancy giant McKinsey as part of its “Velocity” cost-cutting and restructuring programme. It also forked out millions of dollars in CEO and other staff bonuses as part of its Velocity Leadership Incentive scheme. Last week Fonterra announced its first ev...