Divestment means Fonterra can focus on its strengths
OPINION: Fonterra's board has certainly presented us, as shareholders, with a major issue to consider.
Fonterra’s board is backing Zespri chairman Peter McBride, and Maori agribusiness leader Jamie Tuuta in the 2018 board elections.
Sitting director Ashley Waugh has also won nomination from the Fonterra board after being recommended by the independent selection panel.
This means two sitting directors- former chairman John Wilson and Nicola Shadbolt- will leave the board after the annual general meeting in Waikato on November 8.
Returning Officer Warwick Lampp announced the three nominations this morning.
He says the three candidates were nominated by the Fonterra board after being recommended by the independent selection panel.
The Fonterra Shareholders Council is also supporting the three candidates.
The directors’ election process includes two nomination options: the independent nomination process and the self-nomination process.
The self-nomination process, where farmers can stand as a candidate for the board with the support of 35 different shareholders, is now open. Nominations close on Thursday, 20 September 2018.
The full list of candidates for the Fonterra board elections will be announced on September 24.
Voting Packs, containing candidate profiles, will be mailed to eligible shareholders on Monday, 15 October 2018. Shareholders can vote by internet or post, using the first past the post, majority system. Voting closes at 10.30am on Tuesday, 6 November 2018 with the results being announced later that day.
McBride, who became Zespri chairman in 2013, has invested in the kiwifruit and dairy industries.
Tuuta was appointed Moari TV chairman in May this year. He was previously chair of the Parininihi ki Waitōtara Incorporation, the largest farmer in Taranaki and one of the largest milk suppliers to Fonterra.
Dawn Meats is set to increase its proposed investment in Alliance Group by up to $25 million following stronger than forecast year-end results by Alliance.
A day after the ouster of PGG Wrightson’s chair and his deputy, the listed rural trader’s board has appointed John Nichol as the new independent chair.
Tributes are pouring in from across the political divide for former Prime Minister Jim Bolger who passed away, aged 90.
The iconic services building at National Fieldays' Mystery Creek site will be demolished to make way for a "contemporary replacement that better serves the needs of both the community and event organisers," says board chair Jenni Vernon.
Agri advisor Perrin Ag says its graduate recruitment programme continues to bring new talent into the agricultural sector.
Entries are open for the 2026 New Zealand Dairy Industry Awards (NZDIA).
OPINION: Voting is underway for Fonterra’s divestment proposal, with shareholders deciding whether or not sell its consumer brands business.
OPINION: Politicians and Wellington bureaucrats should take a leaf out of the book of Canterbury District Police Commander Superintendent Tony Hill.