Terrible Arguments Fonterra (TAF)

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Terrible Arguments Fonterra (TAF)

Those sceptical about Fonterra's Trading Among Farmers proposal have noted increasing desperation by Fonterra Board and now management. Labelling the intervention of Fonterra CEO, Theo Spierrings, as 'terrible arguments Fonterra'.

It is unprecedented for an employee of Fonterra to be lecturing shareholders about how they ought to vote. The role of management is to do bidding of the owners we need to remember Mr Spierrings, happens to be us farmers.

"The tone of Fonterra is desperate but they can't even get the story straight given financial markets and even the Minister for Primary Industries has said this is about building capital. Fonterra says it isn't," Rotorua Fonterra supplier, Lachlan McKenzie points out.

"Now an employee is saying this is the end of the world if TAF is not backed. Where is the Board and isn't it funny that a global expert on cooperatives has done a report for us saying that as a coop, isn't capital constrained."

"You need to ask yourself whether in 20 years time TAF will exactly the same as the Board is pushing today? If the Tui slogan, 'yeah right!' is your first reaction, then that tells you how you ought to vote; no."

"Instead of Fonterra's propaganda I'd recommend reading the report we commissioned as it shoots down a lot of the arguments Fonterra have pushed. You can read it here:
www.ourco-op.co.nz Lachlan McKenzie finished by saying.

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