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

Fonterra looks to trim its board size after flagging $1b in cuts
Fonterra's chair Peter McBride said smaller is better. (Image: supplied)
Staff reporters
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...

More Primary Sector

NZ exporters still bullish on China
Primary Sector

NZ exporters still bullish on China

Fonterra, Silver Fern Farms and Synlait Milk were among the NZ exhibitors at CIIE.

Riley Kennedy 12 Nov 2024
Fonterra full steam ahead with consumer business sale
Primary Sector

Fonterra full steam ahead with consumer business sale

Fonterra increased its payout for the fourth time this season.

Riley Kennedy 11 Nov 2024
Scientists figure out why potent gas is rising. It's scary
Primary Sector

Scientists figure out why potent gas is rising. It's scary

Big methane spike started in 2020. Researchers pinpoint the culprits.