Solid half-year result for Fonterra
Fonterra has reported a solid half-year result – an 8% lift in profit after tax to $729 million.
The results of voting for the Western North Island electorate show Rangitikei hill country farmer Andrew Stewart getting 4233 weighted votes to Gower’s 3502 weighted votes – a winning margin of 731.
Stewart joins the B+LNZ board at its annual meeting in Rotorua next week.
B+LNZ board chair Kate Acland congratulated Stewart and thanked Gower for his work as the incumbent director.
“I know Andrew will bring new thinking and fresh ideas, along with a determination to be future-focused and I look forward to working with him on the board,” says Acland.
Turnout for this director election was just short of 13%, which is on par with other comparable organisations, says Acland.
“This was pleasing given it was the first year of moving to online- only voting. I really encourage farmers to get involved and have their say via the voting process whenever they have the opportunity” Acland says.
Gower will be formally farewelled after the annual meeting.
Acland thanked Gower for his six years of service.
“Scott has made a fantastic contribution during his time as director bringing a large-scale, grassroots hill country farming perspective to the board table. As chair of the people & culture committee he played an important role in the refresh of B+LNZ’s strategy and the appointment of our new CEO. I wish him all the very best for his next endeavours.”
