John Wilson - a pay rise for Theo?

Fonterra CEO Theo Spierings, left, and Fonterra Chairman John Wilson during the Fonterra Annual Results briefing yesterday. Photo / Jason Oxenham.

It has been a good couple of days for Fonterra this week. The Country caught up with Fonterra's Chairman John Wilson to see if he's smiling.

While Wilson is definitely buoyed by the cooperative's record annual result he is still very wary of the need to increase returns to farmers.

Jamie can't help mention Nathan "Pollyanna" Penny's $6 payout prediction. Does John Wilson dare to dream that this could become a reality?

And what about a pay rise for Theo?

Have a listen to the full interview in the Soundcloud embed below: