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Candidates For Fonterra Elections Announced

There are six candidates standing for two places on the Fonterra Board in 2020.

Brent Goldsack, Cathy Quinn, Mike O’Connor and Nathan Guy were announced on 14 September as the Independently Assessed candidates.

Incumbent Director Brent Goldsack is seeking re-election and chose to participate in the Independent Assessment Process. As a re-standing Director Brent automatically goes through to the ballot.

Nathan Guy, Mike O’Connor and Cathy Quinn were recommended by the Independent Selection Panel after their assessment process.

The Non-Assessed Process, where farmers can stand as a candidate for the Board with the written support of 35 different shareholders, closed on Thursday, 24 September. Annabel Cotton and Nicola Shadbolt are standing as Non-Assessed candidates.

Annabel Cotton

Annabel’s 30+ year career has combined being a farmer, a financial analyst and a company director. Annabel is a 4th generation guardian of the 252 ha dairy farm west of Hamilton which has been owned by the family since the late 1800s. Their sharemilkers run a top tier 420 cow herd. Her great grandfather, Thomas Blackett, was Farmer Chair of the New Zealand Dairy Association and drove a merger in 1919 that created the New Zealand Co-operative Dairy Company, enabling supply to remain farmer-controlled. Over the last 20+ years she has held governance appointments at a range of large New Zealand companies across a range of industries. She has chaired the Audit and Risk Committees for many of these companies. Current appointments include directorships of NZX Regulation, Waikato Regional Airport and a fund manager, Trust Investments Management. Annabel’s consultancy business advises NZX and ASX listed boards and executives on governance and communication of value and operational and financial performance. She is a Fellow of the Institute of Directors, Chartered Accountants Australia & NZ, Institute of Finance Professionals and Australasian Investor Relations Association.

Nicola Shadbolt

Nicola and her husband began farming in 1981 and have built, from scratch, and now manage and part own, a farming (dairy (1,300 cows), sheep, beef, deer) and forestry venture, involving four equity partnerships. The venture belongs, and is strongly committed, to seven co-operatives. Nicola’s off-farm career has involved work in government, agribusiness, consultancy, education and research both in NZ and overseas; her qualifications are in science, management, accountancy and governance. She has diverse board experience in farming, infrastructure, local government, marketing, manufacturing, education and innovation sectors. She was a Fonterra Director from 2009 to 2018, and since then has been involved in aid projects with Cambodian and Tanzanian cooperatives, attended a Cooperative Leaders’ Forum in the US and has joined the executive board of the International Food & Agribusiness Association. She has been the NZ representative in the IFCN in Dairying since 2001, and in 2019 took on the role of Chair of the Plant & Food Crown Research Institute. In 2018 she was made an Officer of the New Zealand Order of Merit for services to agribusiness. Nicola is married to Shane and has three adult sons.

Directors’ Remuneration Committee Election

The Returning Officer, Warwick Lampp from, confirmed there will not be an election for the Directors’ Remuneration Committee, as shareholders Glenn Holmes and John Gregan stood unopposed.

Shareholders’ Council Elections

An election is required in two Wards, as follows:

  • Ward 4 – Waikato West: Candidates are Grant Coombes and Gaynor Tierney
  • Ward 6 – Piako: Candidates are Robert Cookson, Nacre Maiden and Andrew Reymer

No election is required in three Wards, where only one nomination was received in each.
The formal declaration of these candidates as Shareholders’ Councillors will be made on 3 November, and they will take office immediately after Fonterra’s Annual Meeting on 5 November 2020.

The Councillors-elect are:

Ward 12 – Central Plateau: Kylie Leonard

Ward 18 – Wairarapa: John Stevenson

Ward 24 – Eastern Southland: Don Moore

No nominations were received in Ward 3 – Southern Northland. The Shareholders’ Council have re-opened nominations today, 25 September, for one week. If no nominations are received by 12 noon on Friday 2 October, that Councillor position will become vacant from the 2020 Annual Meeting.

Voting Period, Voting Methods and Notification of Election Results

Voting Packs, containing candidate profiles, will be mailed to eligible shareholders from Monday, 12 October 2020. Shareholders can vote by internet or post. Voting closes at 10.30am on Tuesday, 3 November 2020 with the results being announced later that day.

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