NZ: Fonterra shareholders call for new direction

By: just-food.com | 31 May 2007

The Fonterra Shareholders' Council has called on the Establishment Board, which was formed this week to oversee the merger of Dairy InSight and Dexcel, to ensure that the new organisation has a fresh start and a fresh direction.

Fonterra Shareholders' Council chairman Blue Read said: "The Shareholders' Council supports the review group's proposal to merge the functions of Dairy InSight and Dexcel and we are pleased to see this progressing. The merger should result in greater alignment and accountability, which will be welcomed by farmers.

"However the review group's report was clear that because of the circumstances that created the need for this review, a fresh start and fresh direction is needed. It is important that the Establishment Board ensures that we don't simply end up with a recycled version of what we had. The Establishment Board must lead the organisation in a new direction that will give farmers the confidence to support the merger proposal when it is put to the vote in October."

Companies: Fonterra