16 Aug 2018

Fonterra's new boss has big challenges ahead - dairy farmers

From Morning Report, 7:40 am on 16 August 2018

Fonterra's new chief executive will be paid "substantially less" than the outgoing Theo Spierings. Mr Spierings finishes up next month, saying goodbye to his $8 million-a-year pay deal. Miles Hurrell will be the interim chief executive until a suitable replacement is found. While that's pleased farmers, some remained worried about how the country's largest company plans to deal with more important and immediate challenges. Agricultural economist Peter Fraser says Fonterra has created its own problems. We're joined by Morrinsville dairy farmer of 55 years, Lloyd Downing, and Golden Bay farmer Wayne Langford, to discuss the issue.