Friday, 29 September 2023 13:37

Fonterra directors unopposed, still require majority vote

Written by Sudesh Kissun

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Under Fonterra’s board election rules, both sitting directors must gain more than 50% support of votes cast to serve another three-year term.

Sitting Fonterra board members Brent Goldsack and Cathy Quinn are unopposed at this year’s director elections.

However, as this is an uncontested election, under Fonterra’s board election rules, both sitting directors must gain more than 50% support of votes cast to serve another three-year term.

When nominations for the non-assessment process closed yesterday, Goldsack and Quinn were the only two candidates. Over the years all Fonterra director elections have been contested.

Fonterra shareholders can nominate themselves to contest director elections in two ways: either as independently assessed candidates or go through the non-assessment process.

Goldsack and Quinn were announced last week as the independently assessed candidates after undergoing assessment by an independent panel of agribusiness leaders.

Voting Packs, containing candidate profiles, will be mailed to eligible shareholders from Monday. Shareholders can vote online or by post from Tuesday, October 17.

Voting closes at 10.30am on Tuesday, 7 November 2023 with the results being announced later that day.

Published in Agribusiness

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