Will Damien O'Connor save Fonterra's farmers from themselves?

Agriculture minister Damien O'Connor said he doesn't support the plan. (Photo: Getty)

Mon, 13 Dec 2021

Fonterra chair Peter McBride framed the dilemma facing his farmer shareholders starkly at last Thursday's meeting: "Either we're a corporate or we're a co-operative". "The current model, where we're trying to have a foot in each camp, is not sustainable," he said."At heart, it's about protecting the co-operative," he said of the capital restructure his board has proposed.Fonterra is not only a corporate; it's New Zealand's largest corporate, accounting for about 20% of the nation...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market close

NZ sharemarket down 1.13% for the week

The S&P/NZX 50 Index closed at 11,796.21, down 39.83 points or 0.34%.

Graham Skellern 19 Apr 2024

Law & Regulation

Two new judicial appointments

Attorney general Judith Collins reveals new judges for high court and court of appeal.

Staff reporters 19 Apr 2024

Economy

Fast-track ‘stakeholders’ list released

Major corporates including Carter Group and Fonterra are on the list.

Victoria Young 19 Apr 2024

Sponsored

Boosting rural growth with innovation

Productivity and sustainability go hand in hand for the rural sector

ASB Scam Update

Sponsored

Auckland's new "Midtown" taking shape

5-star hybrid workspaces, combined with the City Rail Link, are creating a revitalised inner-city zone designed to motivate workers back to the office.

Alberts