We’re proudly a Co-operative. This means we’re owned by our farmers (our members) who buy into Fonterra and agree to sell us milk. 

In return, we collect their milk from their farms and pay them for every drop of milk we collect (measured in kilogram of milk solids) and an annual dividend.

We focus on governance in a way that promotes:
  • The interests of our Shareholders.
  • Transparency – giving our Shareholders and other stakeholders the information they need to assess our performance.
  • Effective risk management – ensuring Fonterra meets its business objectives and legal requirements.
  • A good balance between the roles and functions of our board and management team.
  • Communication with important stakeholders – including shareholders, employees, customers, farmers, governments and communities.
But we are nothing special without our farmer owners

They trust us with their milk and we work hard to treasure their product. They’re what set us apart from other companies. That’s because they get up at 4.30am every day of the year to milk their cows and provide our Co-op with the best dairy in the world. They work the land, care for their cows and give back to their communities.

We encourage and support our farmers to be the best they can be, to put the best environmental management practices at their fingertips and help them improve profitability and resilience on-farm.

Related documents


Read our Co-operative's Constitution

Code of Business Conduct and Policies


Corporate Governance Statement and Statutory Information

Being our owners puts farmers at the centre of our business. Everything we do is about delivering value and returns for them and their whānau. Our governance structure helps us achieve this. Our Co-op is governed by the Board of Directors who are responsible for the leadership and direction of our company.

The Fonterra Co-operative Council is an elected national body of farmer shareholders who represent the views of all our farmers. The Fonterra Management Team (often called FMT) is headed up by our CEO Miles Hurrell and is responsible for the day-to-day business operations.

“I’d like to thank the Co-op’s farmer-owners and unitholders for their continued encouragement and support. It’s not something that I’d ever take for granted.”

Miles Hurrell

Fonterra Chief Executive Officer