Fonterra management ‘corporate eunuchs’ - Shane Jones

Photo: RNZ / Richard Tindiller

Minister of Regional Economic Development Shane Jones is calling Fonterra's management "corporate eunuchs" after the dairy co-op forecast another big loss yesterday.

The co-op is forecasting a loss of of up to $675 million this financial year as it writes down the value of its underperforming overseas assets.

Mr Jones says Fonterra's board has shown itself to be "grossly inept". He spoke to Susie Ferguson about his characterisation of Fonterra:

Read more:

• Government will not step in for Fonterra farmers
• Fonterra forcasts up to $675 loss for year
• Fonterra needs to be asked the hard question - farmer