LIC ends year with $30.6m profit
Herd improvement company LIC has ended the 2024-25 financial year in a strong position - debt-free and almost quadrupling its net profit.
Funded by Community Governance Aotearoa, as part of their national action plan for community governance, led by SWIFT and facilitated by Mentoring Foundation NZ, this six-month initiative has been life-changing for participants like Chloe Jones, a 26-year-old regional operations manager for Fonterra, and John Natua, a New Zealand-born Cook Islands father of four who has worked in the public sector for over 20 years.
Jones, who juggles three jobs in the farming industry and serves as the volunteer board chair for NZ Young Farmers, joined the programme with an open mind, eager to improve her governance skills.
“I went in blind with no expectations, and it turned out to be the best approach I could’ve had,” Jones says.
The programme paired her with Waikato dairy farmer Gray Baldwin, a seasoned board member of Farmlands and Ballance, who shared her farming interests.
Their relationship grew through regular one-on-one meetings, where they discussed various governance scenarios over coffee.
“Gray and I had open and honest conversations about different topics, diving deep into the weeds,” Jones explained. These ‘situational discussions’ provided Jones with valuable insights into the complexities of governance.
One of the most impactful lessons she learned from Baldwin was understanding that every board is different and that whilst governance practices stay the same, they can be tweaked to the needs of each board to fit each unique environment.
“As a young professional at the start of my governance career, hearing from someone with a different experience that it’s normal for things to vary was reassuring,” she said.
The programme also helped Jones fine-tune her governance approach and build her confidence.
“It grounded me and helped me figure out my style, which is crucial when stepping into a boardroom,” Chloe said. “It also helped me build my own board and networks, providing me with a support system to sound out ideas.”
Jones has already applied her new skills to her role with NZ Young Farmers.
“Our board is unique, with members typically under 31 and facing the challenge of ‘forming, norming, and storming’ within a year. The governance insights I’ve gained have been influential in brainstorming and leveraging our board members’ skills to get the best out of them.”
Looking ahead, Jones is excited about her governance aspirations and aims to align them with her values and passions.
“I want to focus on farming boards and continue my career in this sector. The programme has given me a clear direction and the confidence to pursue my goals,” she says.
SWIFT is now calling for expressions of interest for future governance mentoring and training programmes. Professionals eager to improve their governance skills and contribute to their communities are encouraged to contact SWIFT via email at This email address is being protected from spambots. You need JavaScript enabled to view it..
