Listen: Rod Oram on why he thinks Fonterra is 'failing basic tests'

Fonterra chief executive Theo Spierings. Photo / Jason Oxenham

The Country's Jamie Mackay caught up with leading business commentator Rod Oram who has recently questioned the performance of Fonterra and the pay packet of Theo Spierings.

Oram says he has no problem with Spierings' $8.32 million dollar salary as long as Fonterra explains how that amount of money is justified. He believes the dairy co-op has not been clear on this point.

Rod Oram also says Fonterra is "failing basic tests" when it comes to being transparent with shareholders on how bonuses are generated and measured.

Also in today's interview: Rod and Jamie discuss Fonterra's bid for ailing Australian dairy giant Murray Goulburn.

Listen to the full interview in the Soundcloud embed below: