Monday, 17 December 2012 14:33

Fonterra vote results

Written by 

Fonterra shareholders have voted overwhelming in favour of a resolution to lock in protections around the size of the Fonterra Shareholders' Fund and the integrity of the Farmgate Milk Price.

Resolution 8 was passed with 89.51% support at Fonterra's Annual Meeting in Hamilton today.

The results of the resolutions are:

RESOLUTION RESULT -
% in favour
Resolution 1: Approval of remuneration of Directors 73.73%
Resolution 2: Approval of remuneration of Shareholders' Council 75.85%
Resolution 3: Approval of remuneration of members of Directors' Remuneration Committee 80.21%
Resolution 4: Appointment of PricewaterhouseCoopers as auditor and authorisation of the Directors to fix the auditor's remuneration 94.67%
Resolution 5: Approval of Shareholders' Council programme and budget 87.53%
Resolution 6: Ratification of appointment of Sir Ralph Norris 84.91%
Resolution 7: Ratification of appointment of Ralph Waters 88.37%
Resolution 8: Constitutional Changes for Trading Among Farmers 89.51%

SHAREHOLDER PROPOSAL RESULT -
% in favour
McKenzie Proposal 36.56%

Following the annual meeting, the board formally confirmed chair Elect John Wilson as the chairman of Fonterra.

More like this

Fonterra trims board size

Fonterra’s board has been reduced to nine - comprising six farmer-elected and three appointed directors.

Returns 'not good enough'

Fonterra leaders are making their case for offloading the co-operative's $3 billion consumer business, noting that its return on capital has been nowhere near respectable.

Record milk price!

A record farmgate milk price for Fonterra shareholders is all but confirmed for this season.

Chinese strategy

OPINION: Fonterra may have sold its dairy farms in China but the appetite for collaboration with the country remains strong.

Featured

Massey Research Field Day attracts huge interest

More than 200 people turned out on Thursday, November 21 to see what progress has been made on one of NZ's biggest and most comprehensive agriculture research programmes on regenerative agriculture.

Expo set to wow again

Stellar speakers, top-notch trade sites, innovation, technology and connections are all on offer at the 2025 East Coast Farming Expo being once again hosted in Wairoa in February.

A year of global challenges

As a guest of the Italian Trade Association, Rural News Group Machinery Editor Mark Daniel took the opportunity to make an early November dash to Bologna to the 46th EIMA exhibition.

National

Winter grazing warning

Every time people from overseas see photographs of cows up to their hocks in mud it's bad for New Zealand.

ANZ defends farm lending rates

The country's largest lender to the agriculture sector says it's not favouring home loans over farm and business lending.

Machinery & Products

Expo set to wow again

Stellar speakers, top-notch trade sites, innovation, technology and connections are all on offer at the 2025 East Coast Farming Expo…

A year of global challenges

As a guest of the Italian Trade Association, Rural News Group Machinery Editor Mark Daniel took the opportunity to make…

» Latest Print Issues Online

The Hound

Review SOEs!

OPINION: NIWA has long weathered complaints about alleged stifling of competition in forecasting, and more recently, claims of lack of…

Bank reset

OPINION: Adding to calls to get banks to 'back off', NZ Agri Brokers director Andrew Laming has revealed that the…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter