Money in milk

Dairy News Australia - - OPINION -

Clearly there’s money to be made from milk, with Fon­terra CEO Theo Spier­ings paid $8 mil­lion last year. No sooner was the news an­nounced than the NZ Co-op was im­me­di­ately de­fend­ing it. Chair­man John Wil­son said Spier­ings hit “far­reach­ing and de­mand­ing tar­gets” set by the board and that his pay was bench­marked us­ing “in­de­pen­dent ad­vi­sors”. “Clearly these num­bers are high from a New Zealand per­spec­tive and we ab­so­lutely re­spect and un­der­stand that; but from an Aus­tralasian and global per­spec­tive we are still well within the bands of what those global ex­ec­u­tives earn.” We reckon it’s pretty high from an Aus­tralian per­spec­tive, too.

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