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.
South Island director Matt Ross and North Island director Dr Alison Watters are not seeking re-election at the end of their current term.
Ross was elected to the board in June 2017 and has had a long association with LIC and experience in leadership roles.
LIC chair Corrigan Sowman says Ross is a highly valued member of the LIC board who brings his knowledge and practical experience in farming excellence to the table.
“LIC has benefited greatly from Matt’s ability to understand both the very grass roots of our business as a previous AB technician through to advanced strategic
breeding decisions of today and what that means for creating value inside the farmgate for farmers,” says Sowman.
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Matt Ross |
Watters was elected to the board in June 2014 and has significant experience in directorship and dairy industry innovation.
Sowman says Watters’ passion for the New Zealand dairy industry and focus on its success is extremely beneficial for the LIC board.
“Alison contributes significantly to the dairy sector, both on farm and in many board rooms, therefore I reluctantly accepted her resignation from her elected director role.
“It’s never easy to lose long-standing directors, however, our team of directors bring a diverse and extensive range of knowledge to the board, and we look forward to welcoming new directors at the annual general meeting,” says Sowman.
Departing directors will remain on the board until LIC’s annual meeting on September 18 this year.
