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Nominations for Fonterra Committees Open Today

Thursday, 7 September 2017

Nominations for Fonterra Shareholders’ Council And Directors’ Remuneration Committee Open Today

Nominations opened today for the 2017 Fonterra Shareholders’ Council and Directors’ Remuneration Committee Elections.

Following last year’s Governance and Representation Review undertaken by Fonterra, the Shareholders’ Council has given effect to the recommendation voted on by shareholders in late 2016 that: “Over the next 12 months, the number of Shareholders’ Council wards is reviewed to establish how they can be reduced within the range that is permitted under the current Constitution.”

In doing so the Council determined to reduce its size from the current 35 Council wards to 25 effective from the 2017 Annual Meeting and also agreed that all 25 wards will be up for election this year.

Consequently, nominations are now being called in all 25 wards, the details of which are set out in the Shareholders’ Council Candidate Handbook available from the Returning Officer.

Shareholders’ Council Chairman, Duncan Coull: “A smaller Shareholders’ Council will increase the pool of potential candidates in each ward, increase competition and lift the calibre of future Councillors. Furthermore it will increase the accountability of individual Councillors to the Farmers in their ward.”

The following 11 Councillors have indicated that they will be retiring this year: Terence Brocx, Bill Millar, Kevin Ferris, Steve Hines, Kevin Turnbull, Rob Poole, Ellen Bartlett, Philip Palmer, Charles Whitehead, Greg Kirkwood, and Vaughan Templeton.

For the Directors’ Remuneration Committee, Murray Holdaway and Philip Wilson are retiring by rotation. Both are eligible for re-election however they have both indicated they will be retiring this year.

All candidates must satisfy eligibility requirements in order to be elected, and further procedural requirements are specified in the Election Rules.

Nomination Papers and Candidate Handbooks will be available by phoning the Election Helpline on free phone 0800 666 034 or emailing iro@electionz.com.

Nominations must be received by the Returning Officer, Warwick Lampp of electionz.com, by 12 noon on Thursday, 21 September 2017.


ends

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