Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

'Timing is right': Fonterra chairperson John Monaghan stepping down

The chairperson of Fonterra will not seek re-election at the end of this year, after 11 years with the dairy co-operative.

Fonterra CFO Mark Rivers, chair John Monaghan and chief executive Miles Hurrell. Photo: RNZ / Dan Cook

Farmer John Monaghan would retire when his three-year term ends in November.

He had spent 11 years on the board of the dairy giant, fronting its $196 million annual loss in 2018, alongside major plans to slash debt and sell assets.

Monaghan said the time was right for him to leave.

"Having seen through the introduction of our new strategy, operating model, and with our debt reduction efforts well progressed, the timing is right for me and for the co-operative," he said in a written statement.

"The board is committed to a planned chair succession that provides Miles [Hurrel] and his senior management team with the governance stability and confidence they need to maintain the co-operative's momentum."

A new chairperson would be chosen from the other seven farmer directors on Fonterra's board, and would be announced by August.

A replacement was still being found for an independent director who left the board in November last year.

© Scoop Media

 
 
 
Top Scoops Headlines

 

Gordon Campbell: On The Use Of Existing Drugs To Reduce The Effects Of Coronavirus

So now, we’re all getting up to speed with the travel bans, the rigorous handwashing and drying, the social distancing, and the avoidance of public transport wherever possible. Right. At a wider level…so far, the public health system has ... More>>

Gordon Campbell: On Oil Market And Regulation Crusades

Safe to say, Vladimir Putin did not expect the response he has received amidships from the Crown Prince of Saudi Arabia. Earlier, Russia chose to walk away from the OPEC talks in Vienna that were aimed at reaching an agreement on how to reduce world oil production (and protect oil prices) in the light of the fall in demand being caused by the coronavirus. No doubt, Russia and its allies in the US shale industry probably glimpsed an opportunity to undercut OPEC and seize some of its customers. Bad move. In reply, Saudi Arabia has smashed the oil market by hugely ramping up production, signing up customers and drastically cutting the oil price in a fashion designed to knock Russia and other oil suppliers right out of contention. More>>

Gordon Campbell: On 22 Short Takes About Super Tuesday

With obvious apologies to the Simpsons….Here’s my 22 short takes on the 14 Super Tuesday primaries that combined yesterday to produce a common narrative –Bernie Sanders NOT running away with the nomination, Joe Biden coming back from the dead, and the really, really rich guy proving to be really, really bad at politics. In the months ahead, it will be fascinating to see if the real Joe Biden can live up to the idea of Joe Biden that people voted for yesterday – namely, the wise old guy who can save the country from the political extremism of the right and the left... More>>

Binoy Kampmark: Strong Man Legacies: Burying Mubarak

Reviled strongmen of one era are often the celebrated ones of others. Citizens otherwise tormented find that replacements are poor, in some cases even crueller, than the original artefact. Such strongmen also serve as ideal alibis for rehabilitation ... More>>

Caitlin Johnstone: Humanity Is Making A Very Important Choice When It Comes To Assange

The propagandists have all gone dead silent on the WikiLeaks founder they previously were smearing with relentless viciousness, because they no longer have an argument. The facts are all in, and yes, it turns out the US government is certainly and undeniably working to exploit legal loopholes to imprison a journalist for exposing its war crimes. That is happening, and there is no justifying it... More>>

Gail Duncan: Reframing Welfare Report

Michael Joseph Savage, the architect of the 1938 Social Security Act, wouldn’t recognise today’s Social Security Act as having anything to do with the kind, cooperative, caring society he envisioned 80 years ago. Instead society in 2020 has been reduced ... More>>


Gordon Campbell: On The Addiction To Chinese Student Fees

Last week, Australian PM Scott Morrison extended its ban on foreign visitors from or passing through from mainland China – including Chinese students - for a third week. New Zealand has dutifully followed suit, with our travel ban ... More>>

 
 
 
 
 


 
 
 
  • PublicAddress
  • Pundit
  • Kiwiblog