What Fonterra might have been

Fonterra's reason for existing was to move the New Zealand dairy industry up the value chain, particularly into branded products, but also pharmaceuticals and other specialised products.It was for this reason that the government agreed to allow the three largest dairy organisations to merge in 2001 to create a near-monopoly.But the industry leaders and politicians were blinded by the belief that big is better and that creating a monolithic behemoth would of itself ensure Fonterra fulfilled its mission.As its second chief executive Andrew Fe...