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Candidates For Fonterra Elections

Friday 5 April 2002

Joint Returning Officers Kerry Heath and Pam Hikuroa said today that eight candidates would contest Fonterra's first Board of Directors election. The candidates are (in the order they will appear on the ballot paper): Philip Van Der Bijl, Gerard Lynch, Malcolm Bailey, Greg Gent, Earl Rattray, Jim Van Der Poel, David Graham and Colin Holmes.

Three Directors will be elected in a nationwide vote of Fonterra shareholders. Fonterra's Constitution provides for a Board this season of up to ten shareholder Directors and up to three independent Directors. Each year, a third of the Directors elected by the shareholders must retire. The three to retire this year were selected by lot and are seeking re-election.

Voting for the Board is on the basis of milksolids production. Shareholders will receive one ballot paper per farm and have one vote for every 1,000 kg of milksolids. In allocating votes, production is rounded down to the nearest 1,000 kg. There is no cap on votes.

The Joint Returning Officers said there would also be one ward election for Fonterra's Shareholders' Council. The election would be in ward 1 - Northern Northland. There are two candidates for the one seat in the ward: Ken Rintoul and Kevin Baxter. Shareholders in Northern Northland will receive two votes (ballot papers) per farm for the Shareholders' Council election.

In eight other wards, there were the same number of nominees as vacancies for the Shareholders' Council. In those wards, Fonterra's Chairman will declare the nominees elected as Councillors once some formalities have been completed.

In ward 12 - Te Aroha - a casual vacancy occurred due to the resignation of one of the sitting Councillors, however no nominations were received. There will be a casual vacancy in that ward and the Shareholders' Council will meet shortly to decide how the vacancy will be filled.

The Single Transferable Vote (STV) voting system will be used for the elections. Voting will run from 30 April to 17 May and results will be finalised and appointments made by 31 May.

Voting packs, including ballot papers and a video of the Board candidates, will be sent to shareholders on 30 April. A series of candidate meetings will also be held to allow Fonterra shareholders to meet and question Board candidates face-to-face.

END

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