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Voting Results from Fonterra Annual Meeting
8 October 2004
Voting Results from Fonterra Annual Meeting
A proposal to move the election of Fonterra directors from April/May to bring them in line with the Annual Meeting received almost 96 percent support.
The move will include the vote as part of the Annual Meeting meaning farmer-elected directors will take office at the same time shareholders are asked to confirm the appointment of board-appointed directors.
The change in dates will also allow farmers to consider the information in the current Annual Report and Shareholders' Council Report in making their decisions for director elections.
A related proposal to change the timing of Councillors' elections received similar support.
Proposals put before the meeting, and the percentage of votes cast in their favour, are listed below.
Proposal %age in favour
To ratify
the appointment of Graeme Hawkins as a director 96.7%
To ratify the appointment of Ian Rutledge Johnson as a
director 96.1%
To approve the remuneration of elected
directors 90.7%
To approve the remuneration of
councillors 84.8%
To appoint Pricewaterhouse Coopers as
auditor of the company 99.2%
Amend the constitution to
change the timing of director elections 95.8%
Amend
Shareholders Council by-laws to change the timing of
councillor elections 95.6%
Approve the Shareholders
Council programme and budget for 2005/2006 94.5%
Amend
the constitution relating to the number of directors 98.2%
Amend Shareholders Council by-laws relating to the
reduction of the minimum number of
councillors 98.1%
ENDS
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