Voting for the 2nd Fonterra Directors' Election is underway
Voting is now open for the 2018 Fonterra Board of Directors’ Second Election.
Only two candidates from the first election, Leonie Guiney and Peter McBride, obtained more than 50% support from voting shareholders. The Rules of the first election state that if not enough candidates obtain more than 50% support, there must be a second election.
This is the first time a second Director election has been required. The Shareholders’ Council has determined that the second election will be a vote between the unsuccessful candidates nominated in the first election who wish to re-stand.
Consequently, this election is between self-nominated candidate John Nicholls and Jamie Tuuta, who was nominated by the Board, having been recommended by the Independent Selection Panel.
As with the first election, to be successful a candidate must obtain more than 50 per cent support from Shareholders who vote. If both candidates get more than 50 percent support then the candidate with the highest level of support will be elected. If no candidate gets more than 50 percent support there will not be a third election and the Fonterra Board may exercise its constitutional power to make a temporary appointment until the 2019 Annual Meeting is completed (the Board may not appoint an unsuccessful candidate).
The voting period runs from Tuesday, 4 December to 1pm on Thursday, 20 December 2018. Shareholders can vote online and by post. The results will be determined and announced on 20 December 2018 after the close of voting. The successful candidate will take office immediately.
Any queries regarding the Second Election should be directed to the Returning Officer on the Election Helpline freephone 0800 666 034.