Tuesday, 10 October 2023 12:55

No election needed!

Written by  Sudesh Kissun
Fonterra chair Peter McBride believes the uncontested director election shows that the co-op is well governed. Fonterra chair Peter McBride believes the uncontested director election shows that the co-op is well governed.

Fonterra chairman Peter McBride claims an uncontested director election this year reflects the calibre of the two board members up for re-election.

Sitting Fonterra board members Brent Goldsack and Cathy Quinn are unopposed.

However, as this is an uncontested election, under Fonterra’s board election rules, both sitting directors must gain more than 50% support of votes cast to serve another three-year term.

When nominations for the non-assessment process closed last month, Goldsack and Quinn were the only two candidates. This is the first time in the co-op’s history that director elections have not been contested.

McBride told Rural News that while shareholders believe their co-op is well governed, it also reflects the skill sets of Goldsack and Quinn.

“No one else came through the nomination process; that shows the co-op is well governed and the calibre of the incumbents,” he says.

Fonterra Co-operative Council chair John Stevenson is also unopposed for another three-year term on the council.

Meanwhile, former Fonterra Co-operative Council chair Simon Couper is making a comeback to a governance role within the co-operative, 11 years after resigning as chair. Couper stepped down as council chair in 2012, unhappy with some aspects of the proposed Trading Among Farmers (TAF), which was later approved by farmer shareholders.

Voting Packs containing candidate profiles will be mailed to eligible shareholders from Monday. Shareholders can vote online or by post from Tuesday, October 17. Voting closes at 10.30am on Tuesday, 7 November 2023 with the results being announced later that day.

More like this

Chinese strategy

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

LCAs tackle false narratives

The quest to measure, report and make sense of the energy that goes into food production has come a long way in the past 25 years.

$3b windfall?

Fonterra's proposed sale of its global consumer business could fetch over $3 billion but not all proceeds will end up in the pockets of farmer shareholders.

Featured

Better animal genetic gain system

A governance group has been formed, following extensive sector consultation, to implement the recommendations from the Industry Working Group's (IWG) final report and is said to be forming a 'road map' for improving New Zealand's animal genetic gain system.

SIDE 2025's new schedule, venue

Annual farmer gathering, the South Island Dairy Event (SIDE), is set to make history as it heads to Timaru for the first time.

Taranaki piggery goes solar

Installing 400 solar panels at their Taranaki piggery and cropping operation will have significant environmental, financial and animal welfare benefits for the Stanley family.

Editorial: Keep FTAs coming

OPINION: The dairy industry will  be a major beneficiary of a new free trade deal between NZ and the Gulf Co-operation Council (GCC).

National

Food charity to hold online auction

Meat the Need, New Zealand’s dedicated charity delivering locally sourced protein meals to food-insecure communities, is launching an online National…

Machinery & Products

An ideal solution for larger farms

Designed specifically for large farms that want to drill with maximum flexibility, efficiency and power, the new Lemken Solitair ST…

Landpower increases its offering

Landpower and the Claas Harvest Centre network will launch the Claas Scorpion and Torion material handling solutions to the market…

» Latest Print Issues Online

The Hound

Leaky waka

OPINION: Was the ASB Economic Weekly throwing shade on Reserve Bank governor Adrian Orr when reporting on his speech in…

Know-it-alls

OPINION: A reader recently had a shot at the various armchair critics that she judged to be more than a…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter