Fonterra sets 2025 annual meeting agenda, outlines budget and pay increases

Fonterra Co-operative Group Limited will hold its hybrid annual meeting on Thursday, December 11, 2025, at 10:30 am in Christchurch. Shareholders will vote on six resolutions, including approving changes to the remuneration of directors, Co-operative Councillors, and members of the Directors’ Remuneration Committee. Proposed increases are NZ$15,000 for the chair (to NZ$513,000 p.a.) and NZ$6,000 for directors (to NZ$208,000 p.a.), with a discretionary pool remaining at up to NZ$200,000. Co-operative Councillors' remuneration is proposed to increase by NZ$4,000 for the chair (to NZ$132,000 p.a.) and NZ$1,500 for Councillors (to NZ$42,500 p.a.), with a discretionary pool increase of NZ$25,000 (to NZ$125,000 p.a.).

Shareholders will also consider the appointment of KPMG as auditor and authorize the directors to fix the auditor's remuneration. A special resolution seeks approval for amendments to the Constitution, aligning it with NZX Listing Rules following Fonterra's move to the NZX Main Board in early 2025. This change requires a 75% majority vote.

The Co-operative Council seeks approval for its program and budget for the financial year ending July 31, 2026, totaling NZ$3.499 million (NZ$2.711 million for operating costs and NZ$788,000 for other costs). This represents an increase from the FY25 actual expenditure of NZ$3.135 million, with variations attributed to inflationary increases, additional responsibilities for councillors, and allowances for contested director elections.