Farmers would be given a “take it or leave it” proposition and if they rejected a candidate that would effectively be a vote of no confidence in the nominations committee.
Plans for the Fonterra Shareholders’ Council to consult farmers supplying overseas subsidiaries might be seen as opening the door to co-op voting rights, which could be interpreted by some as a step towards New Zealand farmers eventually losing control.
Board numbers could have been lowered slightly more than proposed but no lower than nine.
He agreed with farmer suggestions of a short break between council members becoming Fonterra directors.
Sieling, who has strongly criticised Fonterra’s delay in putting proposals to its farmers, believed they would now take the attitude it was on the right track and the debate around change was better late than never.
