Fonterra is leaner, more efficient and equal to the challenge of a tougher global trading environment, insists chief executive Andrew Ferrier.
Hit by a stronger dollar, the co-op's payout to farmers dropped to $4.10/kg of milksolids for last season and it faces pressure to improve the performance of its value-addedconsumers brands business.
Writing for today's Primary Focus section, Ferrier refers to the co-op having made some "tough decisions" when it sliced costs.
"But making them means Fonterra is now structurally organised to make decisions faster ... we are equipping our people to thrive in a competitive market by providing an environment that enables them to work faster and smarter."
Ferrier said there would be no let-up in challenges. "We can expect some curve balls, such as the EU butter issue."
