Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
Shareholders voted to elect incumbent director John Monaghan and new directors Brent Goldsack and Andy Macfarlane, says returning officer Warwick Lampp, of electionz.com Ltd.
Goldsack lives at Matangi and has farming interests in the Waikato and Manawatu. He was born in Taranaki and raised on a dairy farm in Inglewood. Goldsack is a chartered accountant and was a partner at PwC for more than 12 years.
Macfarlane is from Ashburton and has extensive farming interests in Mid Canterbury. He runs a rural and farm advisory business and is currently a director of AgResearch and Ngai Tahu Farming and a councillor of Lincoln University.
Ian Farrelly, Leonie Guiney and David MacLeod are retiring from office effective the conclusion of the Fonterra annual meeting on 2 November 2017.
Shareholders Glenn Holmes and John Gregan were elected unopposed to the directors’ remuneration committee.
In the shareholders’ council elections the following 10 shareholders’ councillors were elected:
Ward 4 – Waikato West - Ross Wallis
Ward7 – Waipa - Kevin Monks
Ward 8 – South Waikato - James Barron
Ward 12 – Central Plateau - Matt Pepper
Ward 13 – Central Taranaki - Noel Caskey
Ward 16 – Central Districts West - Robert Ervine
Ward 18 – Wairarapa - John Stevenson
Ward 19 – Tasman/Marlborough - Sue Brown
Ward 21 – Central Canterbury - Jessie Chan-Dorman
Ward 24 – Eastern Southland - Emma Hammond
John Stevenson is a new shareholders’ councillor.
In the 15 other shareholders’ council wards where elections were due, nominees were elected unopposed. The councillors in those wards are:
Ward 1 - Northern Northland - Luke Beehre
Ward 2 - Central Northland - Sue Rhynd
Ward 3 - Southern Northland - Greg McCracken
Ward 5 - Hauraki - Julie Pirie
Ward 6 - Piako - Malcolm Piggott
Ward 9 - King Country - Duncan Coull
Ward 10 - Northern Bay of Plenty - Don Hammond
Ward 11 - Eastern Bay of Plenty - Wilson James
Ward 14 - Coastal Taranaki - Vaughn Brophy
Ward 15 - Southern Taranaki - Ben Dickie
Ward 17 - Hawke’s Bay - Andrew Hardie
Ward 20 - North Canterbury - Shaun Lissington
Ward 22 - South Canterbury - Michelle Pye
Ward 23 - Otago - Ad Bekkers
Ward 25 - Western Southland - Ivan Lines
Luke Beehre is a new shareholders’ councillor.
All successful candidates will take office at the close of the annual meeting on Thursday, 2 November 2017.
