Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Fonterra’s Shareholders’ Council Welcomes Strategy


Fonterra’s Shareholders’ Council Welcomes Strategy

Fonterra’s farmer representative group, the Shareholders’ Council welcomes The Fonterra Strategy sent to shareholders today.

Shareholders’ Council Chairman Tony O’Boyle says the Council was pleased to receive the plan when the Board Chairman and Chief Executive recently presented it to them.

“It is a common-sense strategy to create sustainable wealth for Fonterra’s 13,000 farmer shareholders, “Mr O’Boyle says. “Initial impressions from Council are favourable, in particular the target to achieve total shareholder returns of at least 13 to 15% on top of payment for milk.

“It also challenges us, as shareholders, to improve our own productivity by 3% annually in order to aggressively protect our low cost of production position.

“Overall, I think it will be well received by farmers as it outlines the seven key areas that Fonterra needs to focus on to create more value from our milk.”

Mr O’Boyle says Councillors are looking forward to receiving feedback from shareholders on the strategy.

The Council will monitor the progress of the plan and its results.”


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>