Blue Read turfed as other directors, chairman survive Fonterra vote

Fonterra chairman John Wilson has retained his position on the dairy co-operative's board, along with incumbent Nicola Shadbolt.

Jason Walls
Mon, 23 Nov 2015

Fonterra [NZX: FCG] chairman John Wilson has retained his position on the dairy co-operative’s board, along with incumbent Nicola Shadbolt.

But another director, Blue Read, was not re-elected.

Along with Mr Wilson and Ms Shadbolt, listed brewer Moa’s independent chairman, Ashley Waugh, has been elected.

Greg Maughan and Murray Beach were unsuccessful.

Shareholders David Gasquoine and Stephen Silcock were elected unopposed as members of the directors’ remuneration committee.

Getting farmer shareholders to cast a vote seems to have been no easy task.

Warwick Lampp – the returning officer for the elections – revealed last week voter turnout has been small.

On Friday, just 38% of votes had been cast.

Mr Lampp had urged farmer shareholders not to leave voting to the last minute.

Voting closed this morning at 10:30, giving the remaining 62% of voters just the weekend to have their say.

But it would seem Mr Lampp’s last minute push paid off.

Some 65% of farmers, representing 73% of milksolids, cast their votes.

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Jason Walls
Mon, 23 Nov 2015