[13 August/Stuff]

The Fonterra board and former director, Leonie Guiney, have reached a settlement in their legal proceedings. The board said it had agreed to settle the proceedings and Fonterra agreed to meet her costs. In March, an injunction against Ms Guiney talking to media was ordered. The judge said at the time that there was greater public benefit in the information remaining confidential than in permitting its publication. Ms Guiney had issued a defamation writ against Fonterra’s directors over a letter sent by the board to its shareholders in which it alleged she had leaked and misrepresented details of board discussions. She added she was delighted with the outcome and that common sense had prevailed. She gave credit to the shareholders who supported her, and said all funds would be donated to Farmstrong. She was a director from 2014 to 2017 but was not reselected last year despite offering herself for re-election.