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3 Jun 2020 22:25
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  •   Home > News > Rural

    Shane Jones says Fonterra's executive needs to be pruned, as the dairy giant grapples with a 605-million-dollar loss

    Shane Jones says Fonterra's executive needs to be pruned, as the dairy giant grapples with a 605-million-dollar loss


    Fonterra
    Fonterra
    Jones is the minister for Fonterra's second biggest shareholder, state-owned Landcorp.

    He says it's sad a lot of their culture has left the countryside.

    Jones says Fonterra thought they were a corporate form of a NASA rocket - that they could fire themselves way into the universe and not forget about the day-to-day gravitational pull of making money at home, before you conquer the world.

    He says they've been brought down to earth, and those executives who contributed to that false dream need to be shown the door.

    © 2020 Newstalk ZB, NZCity


     Other Rural News
     03 Jun: Dairy farmers have agreed to again bankroll their industry organisation
     29 May: Fonterra says its China dairy import volumes climbed 10.1 per cent in March after two consecutive months of declines
     21 May: Fonterra continues to strengthen its balance sheet
     21 May: Fonterra is on course to inject 11 billion dollars into the economy this year
     05 May: People made redundant from Covid 19 are the target of farmers with jobs to fill on dairy farms
     24 Apr: Dairy giant Fonterra is persisting with its fifteen to twenty cents share forecast in spite of Covid 19's impact on milk trading
     14 Apr: Dairy farmers are facing a dismal milk 5 dollars 60 a kilogram payout forecast next season - because of the coronavirus crisis
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