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Nominations open for 2019 Fonterra Shareholders’ Council

The Council consists of 25 Councillors, all Fonterra Farmers who are elected across 25 Wards around New Zealand.


Devdiscourse News Desk
Updated: 11-09-2019 08:05 IST
Nominations open for 2019 Fonterra Shareholders’ Council

The Directors’ Remuneration Committee considers the remuneration for Directors and Councillors and makes recommendations to Shareholders for their approval at the Annual Meeting. Image Credit: Wikimedia

Nominations for Fonterra Shareholders' Council, Directors' Remuneration Committee And Fonterra Farmer Custodian Trust Open Today

Nominations opened today for the 2019 Fonterra Shareholders' Council, Directors' Remuneration Committee and Fonterra Farmer Custodian Trust Elections. Nominations close and must be received by the Returning Officer by midday on Friday, 27 September 2019.

Shareholders' Council

The Council consists of 25 Councillors, all Fonterra Farmers who are elected across 25 Wards around New Zealand. Acting like a cornerstone shareholder, Council's functions include the guardianship of the Co-operative Principles and being a sounding-board for the Co-op's Board on matters that impact on farming businesses; monitoring and reporting on the performance of the Co-op against specified targets and its strategy; and representing the collective views of farmer shareholders to the Board and ensuring an informed and connected farmer base.

This year elections are being held for Shareholder Councillors in 10 Wards.

Six Councillors have indicated that they will be retiring. Councilors in the other four wards have indicated their intent to re-stand however Council is committed to encouraging contested elections in all Wards.

Ward District Councillor

2 Central Northland Sue Rhynd

5 Hauraki Julie Pirie

8 South Waikato James Barron (restanding)

9 King Country Duncan Coull

11 Eastern Bay of Plenty Wilson James (restanding

)14 Coastal Taranaki Vaughn Brophy (restanding)

15 Southern Taranaki Ben Dickie

17 Hawke's Bay Andrew Hardie (restanding)

20 North Canterbury Shaun Lissington

23 Otago Ad Bekkers

Directors' Remuneration Committee

The Directors' Remuneration Committee considers the remuneration for Directors and Councillors and makes recommendations to Shareholders for their approval at the Annual Meeting. The Committee is independent of the Board and is made up of six Farmer Shareholders.

Gerard Wolvers resigned from the Committee earlier this year. Scott Montgomerie is retiring by rotation and has indicated he will re-stand this year.

Fonterra Farmer Custodian Trust

The trustees of the Fonterra Farmer Custodian Trust (Trust) hold the Trust's property (including Fonterra units and shares in the Custodian) in accordance with the Trust Deed and ensure that the Custodian complies with the Trust Deed. There are three trustees (a Councillor, a Director and an elected farmer Shareholder) and they also act as the directors of the Custodian.

In accordance with the Trust Deed, current trustee Paul Todd is required to retire by rotation and is eligible for re-election.

Candidates must satisfy eligibility requirements in order to be elected, and further procedural requirements are specified in the Election Rules.

COUNTRY : New Zealand