Fran O'Sullivan is on Fonterra's case again today. With the news out that San Lu lied about the tainting of its milk products for as long as Winston Peters lied about his donations this year, clearly there is something very wrong with governance and oversight in San Lu where Fonterra is a 43% shareholder.
Fran asks why Fonterra Chairman Henry van der Hayden did not front up to the media? Good question. Last night in Wellington some were speculating that Henry might be wanting to hang his CEO out to dry on this. Clearly Fonterra needs to improve things following this scandal. The CEO's media management on this has been very bad, and his actual performance, particularly vis a vis the international media has been much criticised (he virtually exploded in one international interview).
Watch this space.....
