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Nominations for the 2014 Fonterra Elections open today

MEDIA RELEASE

NOMINATIONS FOR FONTERRA ELECTIONS OPEN TODAY

15 August 2014

Nominations open today for the 2014 Fonterra Elections.

This year elections are being held for three shareholder-elected Directors for Fonterra’s Board of Directors, two members of the Directors’ Remuneration Committee, and 22 members of the Shareholders’ Council.

Candidates must satisfy shareholding requirements in order to be elected and further procedural requirements are specified in the Election Rules. These include a requirement for Candidates to be nominated and seconded by Fonterra shareholders.

Nomination Papers and Candidate Handbooks are now available by phoning the Election Hotline on freephone 0508 666 446 or emailing elections@electionz.com. Nominations must be received by the Returning Officer, Warwick Lampp of http://electionz.com/ by 12 noon on Friday, 5 September 2014.

Current Fonterra Directors John Monaghan and David MacLeod retire by rotation in accordance with the Constitution, and are eligible for re-election. There is also one vacancy on the Board to be filled following the retirement of Jim van der Poel.

Candidates for the Directors’ election will be announced by the Returning Officer on Tuesday, 23 September 2014, following the completion of the Candidate Assessment Panel (CAP) process.

For the Directors’ Remuneration Committee, Murray Holdaway and Philip Wilson are retiring by rotation and are eligible for re-election.

The Shareholders’ Council’s recently completed review of the Co-operative’s ward boundaries was undertaken to ensure all Fonterra Farmers have sufficient local representation.

The review has shown a significant increase in Fonterra farm numbers in the South Island and as result the Council approved three recommendations to improve the alignment of Councillors to Farmers throughout the country:

1. Number of wards to remain at 35 with one Councillor in each.
2. North Island representation reduced by three Councillors – one less in Northland, two less in the Waikato.
3. South Island representation increased by three Councillors – two extra in Canterbury and one extra in Southland.

Due to these boundary changes, this year there will be elections for 19 new Wards (which come into existence after the 2014 elections). Shareholders affected by boundary changes will have the opportunity to vote for their preferred representative for their new Ward.

In addition, there will be elections due to retirement by rotation for Wards 19 Central Taranaki, 22 Northern Manawatu and 25 Wairarapa (as these Wards have undergone a number change only, there is no requirement for an election due to a boundary change).

2014 Shareholders’ Council Elections:

Ward 1: Northern Northland
Ward 2 Central Northland
Ward 3 Southern Northland
Ward 5 Hauraki/Coromandel
Ward 7 Piako
Ward 8 Matamata
Ward 9 Western Bay of Plenty
Ward 13 Rotorua
Ward 14 Eastern Bay of Plenty
Ward 15 Taupo
Ward 19 Central Taranaki
Ward 22 Northern Manawatu
Ward 25 Wairarapa
Ward 27 North Canterbury
Ward 28 Rakaia
Ward 29 Ashburton
Ward 30 South Canterbury
Ward 31 Waitaki
Ward 32 Otago
Ward 33 Northern Southland
Ward 34 Southern Southland
Ward 35 Western Southland

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

ENDS

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