Tuesday, 19 March 2024 20:13

B+LNZ board fees hike rejected by farmers

Written by  Sudesh Kissun
Beef + Lamb New Zealand chair Kate Acland. Beef + Lamb New Zealand chair Kate Acland.

Red meat farmers have dealt a major blow to their umbrella farmer body, Beef + Lamb New Zealand - rejecting an increase in directors’ fees.

Results from B+LNZ’s annual meeting in Nelson today shows that almost 66% of farmers who voted, opposed the fee increase. Voter turnout was around 12%.

The board had asked farmers to boost the fee of chair Kate Acland to $90,000 from $76,220. Each director would have received $45,000 from this year (currently $38,110). The pool available for additional director duties was to increase to $25,000 from $20,000. The pool is currently used to recognise additional duties as a chair of board committees and is intended for those directors who sit on our representative organisations’ advisory groups on behalf of B+LNZ and who are not remunerated in these roles.

Farmer support was required for the proposal to proceed, so the fees will not be increased this year.

Acland says the board respects the result.

 “We recognise it’s extremely tough on farm at the moment and believe this has been reflected in the voting outcome,” Acland says.

“However, the fact remains that B+LNZ’s director fees are well below industry benchmarks. While the result shows there are some farmers who would be comfortable with this being addressed now, that’s not the case for the majority so we’ll pick this up again when the time is right.”

A second resolution put forward by the on the appointment of the auditor was supported by farmers.

More like this

Farmers want certainty

OPINION: We've been having constructive conversations with the Government recently around climate change and emissions from food production, but now is the time to see these conversations turn into action.

Featured

ANZCO Foods' net profit plunges

Meat processor ANZCO Foods’ net profit has plunged on the back of lower market returns which squeezed margins and impacted business performance.

Editorial: Forest for the trees?

OPINION: Most people will be aware of the Government's plans to boost coal, oil and gas production to meet energy requirements.

Protest planned outside dairy awards venue

As the dairy industry prepares to celebrate its top achievers at an awards night this Saturday, attendees are being warned to be aware of protests planned outside the venue – Baypark Arena, Mount Mauganaui.

National

Machinery & Products

Iconic TPW Woolpress turns 50!

The company behind the iconic TPW Woolpress, which fundamentally changed the way wool is baled in Australia and New Zealand,…

» Latest Print Issues Online

The Hound

Keep it up

OPINION: The good fight against "banking wokery" continues with a draft bill to scrap the red tape forcing banks and…

We're OK!

OPINION: Despite the volatility created by the shoot-from-the-hip trade tariff 'stratefy' being deployed by the new state tenants in the…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter