Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Fonterra Election Process Underway

Fonterra Co-operative Group Ltd shareholders have received their first information pack on elections for the company’s Board of Directors and Shareholders’ Council, Joint Returning Officers Kerry Heath and Pam Hikuroa said today.

The information pack calls for nominations for the nationwide election for the Board and – in the ten wards where elections are to be held, for the ward-based election for the Council.

A third of the shareholder-elected directors - three this year - and a third of councillors retire annually. The Directors and Councillors to stand down this year were selected by ballot and they can seek re-election. There is an election in one additional Shareholders’ Council ward because a casual vacancy has arisen.

The Shareholders’ Council elections are in wards: 1 - Northern Northland, 4 - South Auckland, 7 - Otorohanga, 10 - South Waikato, 12 – Te Aroha (casual vacancy), 13 - Hauraki, 16 - Central Taranaki, 19 - Wairarapa, 22 - Canterbury North, and 25 - South Central / Western Southland.

The two elections will run concurrently. Nominations for both elections are required to have been received by the Joint Returning Officers by midday on 28 March. Voting will run from 30 April to 17 May and results will be finalised and appointments made by 31 May.

The Single Transferable Vote (STV) voting system will be used for both elections.

The Director Elections Committee of the Shareholders’ Council considered various electoral systems and chose STV for the Board election. It is considered to be a fairer and more effective system for electing multiple candidates and is the best system for reflecting shareholders' wishes and making sure their vote counts.

Rules and processes for the elections have been approved by the Shareholders’ Council for the Directors’ election. For the Shareholders’ Council election rules have been determined by the joint returning officers who are appointed by the Board under the by-laws of the Constitution. Input and advice was sought from Russell McVeagh, PricewaterhouseCoopers and Professor Nigel Roberts of the Political Science and International Relations programme at Victoria University of Wellington. KPMG has been appointed as scrutineer. The Joint Returning Officers will update shareholders and media through the election process.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>