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Will Damien O'Connor save Fonterra's farmers from themselves?

Jenny Ruth
Mon, 13 Dec 2021

Will Damien O'Connor save Fonterra's farmers from themselves?
Agriculture minister Damien O'Connor said he doesn't support the plan. (Photo: Getty)
Jenny Ruth
Mon, 13 Dec 2021
Fonterra chair Peter McBride framed the dilemma facing his farmer shareholders starkly at last Thursday's meeting: "Either we're a corporate or we're a co-operative". "The current model, where we're trying to have a foot in each camp, is not sustainable," he said."At heart, it's about protecting the co-operative," he said of the capital restructure his board has proposed.Fonterra is not only a corporate; it's New Zealand's largest corporate, accounting for about 20% of the nation...

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