Fonterra looks to trim its board size after flagging $1b in cuts

Fonterra's chair Peter McBride said smaller is better. (Image: supplied)

Thu, 07 Sep 2023

Fonterra’s shareholders will vote on whether to cut the number of directors on its board by two at this year’s annual meeting.Since the co-operative's formation it had been envisaged the board size would be rationalised over time, chair Peter McBride said, in a letter to shareholders on Thursday.“With the capital structure review, asset divestment programme and long term strategy work largely behind us, the board believes it is the right time to review its size and composition.”McBride said the board’s “c...

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