Company executives often make headlines for the size of their pay packages and none more so than those at dairy giant Fonterra.

The revelation this week that former CEO Theo Spierings is in line for yet another payout in spite of Fonterra's huge financial losses should have farmers screaming blue murder.

Spierings, who has already collected the thick end of $40 million in salary and incentive payments from his seven-year stint that ended a year ago, has become a symbol for corporate largesse as Fonterra flounders in his wake.


And yet dairy farmers seem unusually quiet. There's been not