Something's wrong in the land of milk and money

It's 20 years since Henry van der Heyden (standing) led the creation of Fonterra. (Image: Getty)

Sat, 09 Oct 2021

This article has been republished. This article was first published in OctoberThe latest Fonterra capital proposal is yet another tiresome development in the cooperative’s attempt to set up an effective capital structure.Fonterra has tested almost every capital mix under the sun but dairy farmers are reluctant to approve a structure adopted by most successful companies.Fonterra’s chairman, Peter McBride, was quoted as saying on Sept 23: “Farmers leave the cooperative for different reasons, but one of the most influential ones...

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