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One New Director, Two New Shareholders’ Councillors Elected

23 November 2015

Record Voter Participation Sees One New Director, Two New Shareholders’ Councillors Elected

Today, following the close of voting in the 2015 Fonterra Elections, which saw record Shareholder voting, it has been confirmed that one new Director and two new Shareholders’ Councillors will take office following the Fonterra Annual Meeting on Wednesday.

Newly elected Director Ashley Waugh and incumbents John Wilson and Nicola Shadbolt were the three successful Director candidates.

Newly elected Shareholders’ Councillors Andrew Hardie (Ward 23 Hawke’s Bay) and Sue Brown (Ward 26 Tasman/Marlborough) will join incumbents Wilson James (Ward 14 Eastern Bay of Plenty) and Kevin Turnbull (Ward 17 Northern Taranaki) at the Council table.

Shareholders’ Council Chairman, Duncan Coull, praised the record breaking efforts of Shareholders which saw 65% of farms, representing 73% of milksolids, cast their votes.

“This is an outstanding result for our Co-op.

“Fonterra Farmers value the Principle of 100% ownership and control and it is great to see Shareholders, as the owners of Fonterra, come out in numbers to decide the direction in which their Co-op will travel.

“My view is that the health of our Co-op is dependent on our Shareholders and their willingness to participate in the decision making processes and based on the participation rates in this Election I would suggest that our Co-op is in very good shape.”

Mr Coull congratulated Ashley Waugh, John Wilson and Nicola Shabolt on their election.

“I would like to welcome Ashley to the role and congratulate John and Nicola on their re-election.

“I also acknowledge the efforts of Blue Read during his time on the Board.”

Mr Coull welcomed Andrew Hardie and Sue Brown to the Council and congratulated Wilson James and Kevin Turnbull on their re-election.

“Succession is important for our Council and the Co-op and I welcome Andrew and Sue. I look forward to working with them and all returning Councillors and trust they will represent their Shareholders and the Council with diligence and integrity.”

Mr Coull also thanked the Council’s retiring Councillors Sandra Cordell and Evan Baigent for their contributions.

“The efforts Sandra and Evan have made on behalf of their Farmers during their time on the Council speaks volumes about them and their passion and commitment for their fellow Farmers, our Co-op and industry.”

Earlier in the Elections process the following Shareholders’ Councillors were elected unopposed:

Ward 2 Central Northland Penny Smart

Ward 5 Hauraki / Coromandel Julie Pirie

Ward 8 Matamata Grant Wills

Ward 11 Te Awamutu Kevin Ferris

Ward 20 Egmont Plains Rob Poole

Ward 29 Ashburton Charles Whitehead

Ward 32 Otago Ad Bekkers

Ward 35 Western Southland Vaughan Templeton

Results of the Annual Meeting Resolutions will be announced following Wednesday’s Annual Meeting at which Shareholders can vote on for the Annual Meeting resolutions.

ENDS

ABOUT THE FONTERRA SHAREHOLDERS’ COUNCIL

The Fonterra Shareholders’ Council represents the interests and views of Fonterra Farmers to the Board of the Co-operative and plays an active role in monitoring and assessing the governance and performance of Fonterra. There are 35 Councillors who are all Shareholders elected by their fellow Farmers in wards across New Zealand.


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