Fonterra chairman Sir Henry van der Heyden praised the decisions of the co-operative’s farmer shareholders over the last decade, in this last chairman’s address at Fonterra Annual Meeting yesterday.
A retail price war in Australia and New Zealand hit Fonterra’s consumer sales hard in the first half of 2012, while the firm said a strategy refresh will see it refocus its efforts on lucrative Chinese, Asian and Latin American markets.
Fonterra chariman Sir Henry van der Heyden has announced his intention to step down from his current role at the New Zealand co-operative's annual meeting in 2012.
Fonterra chairman Henry van der Heyden believes that the current dairy boom in China and India that has underpinned rising prices for products worldwide will continue.
This week, Fonterra commits to its troubled Chinese operations, and Europe-based groups First Milk and Emmi reveal their latest financial performances.
The chairman of New Zealand dairy cooperative Fonterra says its
farmer shareholders are not in danger of losing their controlling
stake of the company should a proposed restructuring and
public offering go ahead.
A spike in commodity costs failed to dampen Fonterra's results
for the financial year ended 31 May, as the company lifted sales by
AUS$881m (€566m) to AUS$13.9bn (€8.9bn).
New Zealand dairy co-operative Fonterra sold almost a tenth more
milk-derived ingredients this year than the previous 12 months,
pushing its overall revenue up 6 per cent to NZ$13 billion
(€6.4bn), it reported yesterday.
