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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.”

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