- Fonterra seeks strong support from farmer shareholders for divesting its consumer brands and Oceania assets.
- Chief executive Miles Hurrell emphasised the need for a strong mandate to proceed with the proposal.
- Hurrell argues a simplified co-operative structure would enable faster growth in new areas.
Fonterra will be seeking “strong support” from farmer shareholders when the board puts a proposal to them for the divestment of its consumer brands and the co-operative’s Oceania division assets in Australia and New Zealand.
“If you’re getting 50% plus a tickle-up, it doesn’t really give you the mandate or