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

 

Ballance announces new Chairman

Ballance announces new Chairman

Waikato farmer and businessman David Peacocke has been elected as Chairman designate of Ballance Agri-Nutrients Limited, set to replace David Graham who will retire from the board in September after 10 years as Chairman.

Mr Peacocke, who joined the board in 2005, was elected to the new position by fellow directors at the company board meeting in late February. He and his family are based in Raglan on their beef property and he has interests in several large family farming operations.

The Peacocke family farmed cattle up until about 20 years ago when they transitioned to a mixed operation which now includes dry stock, dairy and cropping in both the Waikato and Canterbury regions. The family are long-standing customers and shareholders of Ballance and its predecessors, and Mr Peacocke’s father Frank also served as a director on the Bay of Plenty Fertiliser Co-operative then Ballance board from 1991 to 2005.

Ballance Chairman David Graham said that the company opted to appoint a Chairman designate in acknowledgement of the importance of the role and the size and scope of the co-operative.

One of New Zealand’s top 50 businesses, total revenue for Ballance in its last financial year to 31 May 2012 exceeded $900 million, resulting in a $77 million trading result and an average rebate and dividend payment of $44.29 per tonne to its 18,000 farmer shareholders.

“The Board has been working through the process to select a new Chairman over the last six months. We now have a further six months during which introductions and handovers will occur to ensure a seamless transition. Our relationships with everyone from our suppliers to our shareholders are extremely important to our company, and the process will mean David will hit the ground running when his official duties commence after the company’s annual meeting on 25 September this year,” said Mr Graham.

As 2004 Supreme Award winner in the Ballance Farm Environment Awards for the Waikato region, Mr Peacocke is more than familiar with the challenges facing farmers and sees Ballance playing an increasingly important role in their ability to overcome them.

“Farmers are constantly juggling the need to meet rising environmental expectations with the need to increase production and do it profitably. Ballance has evolved to meet these needs with the full range of nutrient products and advice, and will continue evolving as farming does to keep our shareholders and customers ahead of the game. We’re entering into a new era and I am looking forward to contributing in my new role as Chairman,” said Mr Peacocke.

“I couldn’t think of a more exciting time to be part of the Ballance co-operative as we bring the recently acquired farm technology and animal nutrition businesses into the fold and increase the breadth of the value-add products and services we offer to our shareholders.”

He says Ballance is the epitome of a modern co-operative, proactively advocating on behalf of shareholders when regulatory changes have the potential to impact farming, and investing significant sums in research and development to keep farms productive, profitable and sustainable.

Mr Peacocke holds a Bachelor of Commerce (Agriculture) from Lincoln University.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Ground Rules: Government Moves To Protect Best Growing Land

“Continuing to grow food in the volumes and quality we have come to expect depends on the availability of land and the quality of the soil. Once productive land is built on, we can’t use it for food production, which is why we need to act now.” More>>

ALSO:

Royal Society: Calls For Overhaul Of Gene-Technology Regulations

An expert panel considering the implications of new technologies that allow much more controlled and precise ‘editing’ of genes, has concluded it’s time for an overhaul of the regulations and that there’s an urgent need for wide discussion and debate about gene editing... More>>

ALSO:

Retail: Card Spending Dips In July

Seasonally-adjusted electronic card spending dipped in July by 0.1 percent after being flat in June, according to Stats NZ. Economists had expected a 0.5 percent lift, according to the median in a Bloomberg poll. More>>

ALSO:

Product Stewardship: Govt Takes More Action To Reduce Waste

The Government is proposing a new way to deal with environmentally harmful products before they become waste, including plastic packing and bottles, as part of a wider plan to reduce the amount of rubbish ending up in landfills. More>>

ALSO:

Earnings Update: Fonterra Sees Up To $675m Loss On Writedowns

“While the Co-op’s FY19 underlying earnings range is within the current guidance of 10-15 cents per share, when you take into consideration these likely write-downs, we expect to make a reported loss of $590-675 million this year, which is a 37 to 42 cent loss per share." More>>

ALSO: