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19 Nov 2019 8:06
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  •   Home > News > Business

    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


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     Today's News

    International:
    President Donald Trump considers testifying to US Congress over Ukraine dealings 7:56

    Rugby:
    Saracens will not appeal against the sanctions handed down for breaching the English rugby Premiership's salary cap regulations because it would be too time consuming 7:56

    Entertainment:
    Ashley Graham struggled with her "new body" when she got pregnant 7:52

    Law and Order:
    The off court dramas continue at the Breakers 7:46

    Law and Order:
    Christchurch Police are still hunting for two people following a car jacking yesterday 7:36

    Environment:
    Greenhouse gas nitrous oxide emissions have 'increased substantially' in the last decade, study finds 7:26

    Rugby League:
    Just two years after their disappointing rugby league World Cup, the Kiwis have been labelled the best in the game 7:26

    Entertainment:
    Naomi Ackie was warned she'd be fired if news leaked about her casting in 'Star Wars: The Rise of Skywalker' 7:22

    Environment:
    A hireable venue in Upper Hutt has been closed after a report deemed it earthquake prone 7:16

    Boxing:
    The Auckland Tuatara are in shock after the death of American third baseman Ryan Costello, days from the start of the Australian National Baseball League 7:06


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