Milk price certainty
Westland Milk has reaffirmed its commitment to pay farmer suppliers 10c above Fonterra farm gate milk price for the following two seasons.
Shareholders of independent milk processor Westland Milk Products have endorsed a package of changes designed to improve and update the cooperative’s governance.
Westland Chairman Pete Morrison says shareholders at today’s special general meeting in Hokitika approved the changes with 93.5% percent in favour.
This will ‘future proof’ the structure and tone of the governance of our co-operative, and better equip Westland for the opportunities and challenges ahead of us, he says.
One of the key recommendations in the report, a programme to identify and upskill potential shareholder directors, was well received, with feedback from shareholders during the consultation and at the SGM emphasising that continuity and succession planning was important.
“Among Westland shareholders will be a number of people who have the skills and knowledge to be high performing members of our board,” he said,
“but who might lack experience at this level. Our new programme will help identify and upskill these people so that we can ensure there is a continuing pool of high quality, effective directors available for shareholders to vote on to the board in coming years.”
The constitutional changes approved at the Special General Meeting in Hokitika today include:
- A director ‘pipeline’ with a clear process for nurturing highly capable future Westland board directors and governance leadership.
- A reduction in the number of Westland board directors from 11 to 8 (including a reduction in shareholder-elected directors from 8 to 5).
- Reviewed eligibility criteria for all director roles to reflect best practice models and benchmarking against companies similar to Westland and modern international best practice. This includes an Independent Ccndidate assessment that will be visible to shareholders.
- Shareholder-elected candidates will be able to nominate themselves and will undergo a transparent election process, including a ‘roadshow’ where nominees will present to shareholders within strict electioneering protocols.
- The three independent directors will be appointed by the board, and their competencies and suitability for the role will be transparent to shareholders.
Southland farmers are welcoming moves by the Government to repeal intensive winter grazing rules.
Third-year student Cady Burns has won the Waikato Regional Council Prize in Water Science for 2024.
Sam McIvor has been appointed OSPRI’s next chief executive.
The Rural Change programme, providing free private mental health professional sessions to the rural industry, is set to continue its next chapter within Rural Support Trust from 1 July 2024.
Beef + Lamb New Zealand chief executive Sam McIvor will step down in July.
A new report shows farm employers across the dairy, sheep and beef, and arable sectors have continued to invest strongly in one of their greatest assets – their staff.
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird…
OPINION: Synlait's financial woes won’t be going away anytime soon.