Friday, March 29, 2024

Fonterra releases board proposal

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Fonterra is proposing to reduce the size of its board from 13 to a maximum of 11 members.
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It is one of a number of changes included in a draft proposal on governance and representation released this morning.

A majority of six farmer directors will be maintained, and the chairperson must be a farmer director.

However, the eligibility rules for farmer directors would be changed to reflect modern farm ownership structures.

Feedback is being sought on the document and a final decision will be made in late May.

 

More to come

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