Photo / FileThe report of a review of the $3 million a year Fonterra Shareholders' Council is in, prescribing several major changes including surrendering its access to confidential and material company information, changing its name, and reviewing its operating budget. Separately, shareholders on November 5 will vote on three shareholder resolutions seeking a major shakeup of the council. The report recommends the council be renamed the Fonterra Co-operative Council, and that it should focus "sharply" on core functions of shareholder connection, accountability and guardianship. The report says the council should as far as practicable draw on publicly available information and independent performance assessments. The council should advocate publicly on members' behalf on matters relating directly to their interest in the cooperative.

Source: New Zealand Herald October 16, 2020 02:51 UTC