News | Rural
13 Nov 2019 5:00
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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.

    © 2019 Newstalk ZB, NZCity


     Other Rural News
     06 Nov: Global dairy prices have risen 3.7-percent at Fonterra's latest overnight auction
     22 Oct: Good news for farmers from Fonterra this morning
     18 Oct: Trouble at Fonterra, but not of the financial kind this time
     17 Oct: Emergency services are trying to establish what caused a chemical explosion at a Fonterra plant north of Whangarei
     16 Oct: Despite public perception - a dairy farmer says most farmers... are doing they best job they can
     16 Oct: Global dairy prices have edged up point-five-percent at Fonterra's latest overnight auction
     09 Oct: The Agriculture Minister says improving the performance of Fonterra is in everyone's interests
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