June 4, 2012
Fonterra Shareholder Chairman Resigns
Press release
The Chairman of Fonterra's Shareholder Council, Simon Couper, has resigned. Couper tendered his resignation after the Council voted to support Fonterra's proposed Trading Among Farmers (TAF) plan. He had been vocal in expressing his concerns with the plan.
Following his resignation, Couper said he remains unconvinced that Fonterra has put the "controls in place" for farmers to retain 100 percent ownership and control of the cooperative.
A special shareholders meeting will be held on June 25 to gain final approval of the TAF plan from Fonterra members.
