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Nominations for Fonterra Elections Open Today

Media Release
26 July 2006

Nominations for Fonterra Elections Open Today

Nominations are now open for Fonterra’s Board of Directors, Shareholders’ Council and Directors’ Remuneration Committee elections.

Nominations must be received by the Returning Officer, Warwick Lampp of electionz.com, by 12 noon on Friday 18 August 2006.

Fonterra shareholders, or a shareholder of a company or member of a partnership or entity that is a Fonterra Shareholder, are eligible to stand for election. Candidates must also be nominated and seconded by Fonterra shareholders. Nomination forms are available from the Returning Officer who can be contacted via the Election Hotline on 0508 666 446.

Nominations can be faxed to 0508 666 447 or mailed to the Returning Officer, P O Box 3138, Christchurch 8140.

Elections are being held for three shareholder-elected Directors for Fonterra’s Board of Directors, 17 Shareholders’ Councillors for the Shareholders’ Council and two members of the Directors’Remuneration Committee. The Directors and Directors’ Remuneration Committee members will be elected in a nationwide vote. Shareholders’ Councillors will be elected by shareholders in 10 wards.

As part of the Board’s rotational policy, every year, three shareholder-elected Directors must stand down from the Board and seek re-election. This year those Directors are Harry Bayliss, John Wilson and Stuart Nattrass. John Wilson and Stuart Nattrass have confirmed they will stand for re-election and Harry Bayliss has advised that he will retire.

A third of the Shareholders’ Council and two members of the Directors’Remuneration Committee also retire annually by rotation. There is a by-election in two additional Council wards because casual vacancies have arisen.

The Shareholders’ Council elections are being held in the following 10 wards:
Ward 2 Central Northland Ward 3 Southern Northland
Ward 4 South Auckland Ward 5 Hamilton
Ward 8 Rotorua Ward 11 Matamata
Ward 14 Northern Taranaki Ward 17 Southern Taranaki
Ward 20 Hawke’s Bay Ward 23 Canterbury South

The three elections will run concurrently. The voting period is from Tuesday 5 September until Tuesday 10 October, and results will be finalised and announced at Fonterra’s Annual Meeting in Invercargill on Wednesday 11 October 2006. All shareholders will be advised of the election results in a letter from the Board Chair.

The Single Transferable Vote (STV) voting system, by postal, fax and internet voting, will be used for all elections.

ENDS

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