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Who's The Boss At Fonterra Asks Woolerton?

Who's The Boss At Fonterra Asks Woolerton?

New Zealand First has urged Fonterra Dairy Cooperative executives to remember that they are the servants of their farmer shareholders and to start performing or face salary cuts.

Agriculture spokesperson Doug Woolerton said today that the latest drop in the payout of ten cents a kilo is astonishing - given that prices for dairy products on world markets are recovering.

“We have total sympathy for dairy farmers who have seen big cuts in their incomes this season and we suggest that the Fonterra corporate fatcats on huge salaries should suffer the same fate.

“The farmers own the company so they have every right to expect their executives to be accountable for their performance.”

Mr Woolerton said that the latest issue was sound proof that Fonterra should never become a public company or get any more involved in unnecessary corporate activity.

“There is a danger that dairy farmers will end up as coffee-grinders for Craig Norgate and his ilk if that happens,” said Mr Woolerton.

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