Fonterra shareholders to vote on slashing council's budget, duties

Tue, 13 Oct 2020

Fonterra shareholders will vote next month on whether to place a straitjacket on the shareholders' council and starve it of funds and, unlike last year, the board isn't formally opposing the proposition.“In short, our proposal is that the shareholders’ council stick to its constitutional functions, provide farmers with independent and expert financial analysis, and look for significant cost-savings by transferring some activity to the management team,” said the resolution sponsor Tony Paterson, a Southland farmer who l...

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