Today’s crucial vote on share trading among farmers (TAF) will be missing an important person: Fonterra’s new chief executive Theo Spierings.
Due to a serious illness in his immediate family, Dutch-born Mr Spierings will address the conference by video link from the Netherlands, reports the New Zealand Herald.
The vote today will decide whether or not to approve a change in the structure of New Zealand’s biggest company and export earner. If approved, the change will allow farmers to buy and sell shares in the co-operative among themselves, rather than only to Fonterra.
Famers are voting today at eight venues around the country in a proposal billed as the biggest the company has faced in its 11-year history.
The biggest meeting will be held in Hamilton, with video links being provided to venues in Northland, Rotorua, Taranaki, Palmerston North, Nelson, Ashburton and Southland.
The results will be announced as soon as the vote counting is complete.
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