The Hound wonders whether Fonterra’s failure to get its constitutional changes ratified by 75% of farmers at this month’s special meeting will have ramifications.
Rumour has it that the $4 million man Theo Spierings is for the chop. But your old mate reckons those directors and shareholder councillors up for election later this year are likely to be punished with the loss of their jobs – especially since farmers still have the right to actively pick and choose their directors and not endorse the board’s hand-picked candidates, as pushed for by the board and shareholders council. If this old mutt was a Fonterra director up for re-election this year, he’d be polishing up the old CV; he’d likely have spare time come November.