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

 

10 Days To Go In Fonterra Director Elections


10 Days To Go In Fonterra Director Elections

Fonterra's shareholders have just 10 days to decide which of the 11 candidates standing for election to the Fonterra Board will fill the three vacant farmer-elected positions.

Shareholders have started voting in the election, using the Single Transferable Voting (STV) system, and need to return their voting papers by noon on May 23.

Joint Returning Officers Carolyn Mason and Mike Linnegar say shareholders were sent voting packs for the elections on April 28. They contained the voting papers, a video and profiles of each of the candidates, and information on the STV voting system.

The STV system being used requires shareholders to rank candidates in their order of preference, from number '1' to - in the case of this election - number '11'.

Ms Mason and Mr Linnegar say with such a large number of candidates standing, it is even more important that shareholders rank all the candidates, rather than just the first one or two.

"If a shareholder ranks all their preferences their vote can transfer to their other choices if their first choice has more votes than they need for election. Under STV, their vote can also transfer to their other preferences if their first choice has too few votes to remain in the contest.

"The system ensures that more votes count," they say.

Fonterra shareholders receive one vote for every 1000kg milksolids produced in the year to May 2002.

Ms Mason and Mr Linnegar have also organised a series of 'meet the candidate' meetings throughout the country to assist shareholders in making their preferences.

The format of the meetings has been well received. They say shareholders have been split into groups of 11 at the meetings, with each candidate spending a designated time with each group before moving on.

The last three meetings are being held today in Invercargill and Balclutha, and tomorrow in Ashburton.

Further information on the elections is available on the supplier-only section of www.fencepost.com . The results will be known on May 26.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

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>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. 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>>

ALSO:

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>>