COMMENT:

The Herald understands that Fonterra has updated its retainer agreement with Colenso BBDO.

While Colenso remains Fonterra's main agency partner, it's understood the client has shifted its payment model to a project basis.

Asked for comment on the change, Colenso BBDO head of account management Angela Watson would not provide specific details on the change, saying only: "We continue to enjoy working with Fonterra as their agency of record and are currently in the midst of a number of projects as we head toward the new financial year."

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Fonterra was similarly coy on the move, with spokesman Graeme McMillan

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