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Red meat farmers have approved a rise in the pool for directors fees.
Red meat farmers have narrowly approved a 4% rise in the total pool for Beef + Lamb NZ director fees.
After rejecting a proposal for a pay rise last year, 50.6% of B+LNZ levy paying farmers backed the pay rise today at the organisation’s annual meeting in Rotorua.
This year, the Director Independent Remuneration Committee (DIRC) recommended a 6% rise in the total pool for director fees - from $401,500 to $424,000. This would have raised the chair's fees by 18% to $90,000, a 3% rise in director fee to $39,250 and no change to the discretionary spend pool. However, the B+LNZ board asked farmers to approve a 4% rise to the total pool - to $417,500. This represents a fee increase for the chair to $83,320 and for each director to $39,250.
The second resolution on the appointment of the auditor was supported, with 96.83% in favour.
The voter turnout represented 7.43% of registered sheep, beef and dairy farmers. While this is low, it is not unprecedented and it roughly aligns other industry groups’ processes, says B+LNZ.
Around 70 people attended the annual meeting, held as part of the Out the Gate farmer event in Rotorua. The Out the Gate event has attracted about 300 participants.
This is the third in a series of articles from Beef + Lamb New Zealand's Informing New Zealand Beef programme. The seven-year INZB partnership, supported by Beef+Lamb New Zealand and the Ministry for Primary Industries' Sustainable Food and Fibre Futures fund, aims to boost the sector's profits by $460m.
Farmers are welcoming the Government’s revised science-based biogenic methane targets for 2050.
Beef + Lamb New Zealand (B+LNZ) is calling on farmers from all regions to take part in the final season of the Sheep Poo Study aiming to build a clearer picture of how facial eczema (FE) affects farms across New Zealand.
New Zealand is closer to eradicating bovine TB than ever before, but possums remain a threat, says Beef + Lamb New Zealand.
Planning, feeding, a robust animal health programme and the right genetics are the critical factors in a successful heifer mating programme.
BNZ says it is backing aspiring dairy farmers through an innovative new initiative that helps make the first step to farm ownership or sharemilking a little easier.
LIC chief executive David Chin says meeting the revised methane reduction targets will rely on practical science, smart technology, and genuine collaboration across the sector.
Lincoln University Dairy Farm will be tweaking some management practices after an animal welfare complaint laid in mid-August, despite the Ministry for Primary Industries (MPI) investigation into the complaint finding no cause for action.
A large slice of the $3.2 billion proposed capital return for Fonterra farmer shareholders could end up with the banks.
Opening a new $3 million methane research barn in Waikato this month, Agriculture Minister Todd McClay called on the dairy sector to “go as fast as you can and prove the concepts”.
New Zealand’s trade with the European Union has jumped $2 billion since a free trade deal entered into force in May last year.
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