OSPRI writes off $17m over botched traceability system
Animal disease management agency OSPRI has written off nearly $17 million after a botched attempt to launch a new integrated animal disease management and traceability system.
The Institute of Directors has developed a due diligence guide for directors in farming enterprises in conjunction with DairyNZ.
The guide, known as Farming Directorships: A due diligence guide for directors, has been produced to help prospective independent directors understand the nature of the business as part of their preparation in deciding whether to join a farming company board.
It can also be used as a framework for considering farming advisory board appointments.
IoD chief executive Simon Arcus says being an independent director on the board of a farming company can provide a rewarding opportunity to add value to one of the country's largest and most important commercial sectors.
"The guide is about equipping prospective directors and advisors in the rural sector with the best knowledge to enter the environment. If I ran a farming concern I'd give a prospective director a copy too," Arcus says.
"There is growing recognition of the important role that governance structures and long term thinking play in the creation and protection of shareholder value in farming businesses. Good governance is about making the business meet its potential. It means having strategic plans for the future that anticipate the good and bad times ahead."
IoD Waikato branch chair Margaret Devlin says the branch was honoured to launch the guide as it celebrates 25 years in the Waikato.
"The Waikato branch has been involved in supporting the development of this guide from the beginning, and look forward to the difference it will make to farming business success," Devlin says.
"The guide highlights key issues in farming businesses, and raises key questions for prospective directors to ask, and can be useful for any farming business."
Arcus says agri-business is fundamental to the New Zealand economy. Farming businesses are no different from any other businesses.
"Bringing on an independent director can help grow the business for the long-term."
Prime Minister Christopher Luxon will be fronting farmers at three large public meetings organised by Federated Farmers over the coming weeks.
Federated Farmers and a major Australian-owned bank are at loggerheads over emissions reduction targets set for New Zealand farmer clients.
More locally grown tomatoes are coming to stores this month and you can thank New Zealand greenhouses for that.
Changing skill demands and new job opportunities in the primary sector have prompted Massey University to create a new degree course and add a significant major into another in 2025.
It was bringing in a new Canterbury A&P Association (CAPA) show board, more in tune with the CAPA general committee, that has ensured that Christchurch will have a show this year, says CAPA general committee president Bryce Murray.
OPINION: Hats off to our pipfruit sector.
OPINION: The country's dairy farmers will now also have a hand in providing free lunch for schools.
OPINION: The abrupt departure of Synlait chief executive Grant Watson could be a sign that Chinese company Bright Dairy, the…