FONTERRA CO-OPERATIVE GROUP

Fonterra Shareholders’ Council Chair Duncan Coull, pictured, collected the 2017 Co-operative Business of the Year award in recognition of Fonterra’s significant and positive impact within the co-operative community.

Duncan says farmers should take real pride in this special recognition for their co-op.

“Our farmer shareholders set themselves high standards, and it’s their daily hard work and commitment that drives the success of the co-op. I also want to recognise the energy and contribution of our staff in helping build a co-op that returns such value to shareholders, local communities and the New Zealand economy.”

Craig Presland says the award is about celebrating the success of the co-operative business model, and Fonterra had clearly demonstrated the value of the model in returning benefits to its Members and communities throughout New Zealand.

“Fonterra’s stunning financial turnaround, generous social responsibility programmes and a high-profile television campaign proudly proclaiming its Kiwi farmer-owned, co-operative status were key factors in winning the award,” says Craig.

“With its 2016/17 payout forecast to be at least 50% up on the year before, this injects an additional $3.6 billion into the NZ economy and will benefit many fellow co-operatives significantly. Over this period, Fonterra has completed a comprehensive co-operative governance review and raised its profile with the New Zealand public so that it is now better understood as a co-operative and not a corporate.

“It has also continued to generously support New Zealanders within the spirt of Concern for Community, a key co-operative principle. Its Milk for Schools programme, which is now in its fifth year, is the largest social responsibility programme ever driven by a Kiwi commercial business. The ten-million-dollar a year initiative currently benefits more than 140,000 kiwi kids each school day.”