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.
Hames, elected following a shareholder election, will serve a four-year term effective 1 June 2019.
Ken and his wife Janine have a dairy equity partnership at Wellsford as well as a beef farm at Paparoa. Ken has been involved in farming for more than 30 years and has held previous governance roles at Northland Beef + Lamb Council, Northpower Ltd and West Coast Energy Ltd.
He holds a Bachelor of Agriculture from Massey University and has completed many agriculture and governance related courses such as the Fonterra Governance Development Programme.
LIC board chairman Murray King said the appointment is a reflection of Ken’s professional and farming expertise.
“Strong,effective governance of LIC is critical to protect and grow the co-operative for our shareholders. Ken has extensive governance experience particularly in areas of strategy, risk management and investment analysis, which will serve him well in his new role.
“Having lived and farmed in Northland all his life, Ken brings a strong and capable representation of Northern region farmers to the Board.”
Ken Hames, replaces long-standing LIC director of 19 years, Murray Jagger, who will retire at the end of May.
King thanked Jagger for his contribution to LIC and the dairy industry.
“Murray has been an instrumental voice on the Board, ensuring the best interests of New Zealand dairy farmers were always at the forefront of discussion.
“He is innately passionate about the industry with a deep empathy and understanding of farmers. On behalf of the Board, I wish him all the best for the next chapter.”
