Thursday, 15 February 2024 13:50

Farmers to vote on pay rise for B+LNZ directors

Written by  Sudesh Kissun
Beef + Lamb NZ chair Kate Acland. Beef + Lamb NZ chair Kate Acland.

Sheep and beef farmers are being asked to approve hefty pay rises for Beef + Lamb New Zealand chair and directors.

According to B+LNZ annual meeting documents, the director independent remuneration committee (DIRC) is recommending a 9% pay rise, for the 10-member board, that includes an associate director.

If approved at the annual meeting next month, chair Kate Acland’s fees will rise from $76,220 to $90,000 and each director’s fees will jump from $38,110 to $45,000.

That total director fees pool will lift by $73,500 - from $401,500 to $475,000 per annum.

When reviewing director fees, the committee considered market information including benchmarking for B+LNZ provided by Strategic Pay and the

Institute of Directors. Both surveys reference types of industries like agriculture, cooperative, private sector and by number of employees.

The committee says it has considered other similar organisations such as DairyNZ and Federated Farmers.

“DIRC considers the B+LNZ director fees should be at the low end of the upper quartile of benchmarking and be competitive with other representative organisations to attract the expertise to address complex issues,” the committee says.

B+LNZ director fees were last increased at the 2022 annual meeting by 3%.

To avoid large one-off increases, the committee recommends director fees be reviewed and adjusted annually to avoid large one-off increases.

Voting packs were sent to farmers yesterday. The annual general meeting will be held in Nelson on Tuesday, March 19.

“The decision to propose an increase was not taken lightly. We know farmers are experiencing significant financial pressures on the back of weaker livestock prices and high on-farm costs," says Acland.

“DIRC’s benchmarking shows that B+LNZ’s director fees lag significantly behind other industry organisations like Federated Farmers and DairyNZ."

More like this

RMA amendments 'will be a relief to farmers'

The Government’s announcement that a Bill to amend the Resource Management Act (RMA) could be introduced in Parliament next month will be a relief to farmers, says Beef + Lamb New Zealand (B+LNZ).

Not so bad!

OPINION: Your old mate is still somewhat gobsmacked by sheer stupidity and lack of understanding by Beef+Lamb NZ’s board in asking for a pay rise at this year’s annual meeting.

BLNZ fee increase rejected

Frustrated red meat farmers soundly rejected a move by the Beef + Lamb New Zealand board to increase its director fees.


TV series to combat food waste

Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.

Celebrating success

The Director General of MPI, Ray Smith says it's important for his department to celebrate the success of a whole range of groups and people around the country.

Biosecurity award for M. bovis work

A small company which mobilised veterinarians around the country to deal with Mycoplasma bovis was one of the winners in this year's Biosecurity Awards, held at Parliament.

Cyclone's devastating legacy

One of the country's top Māori sheep and beef farms is facing a five-year battle to get back to where it was before Cyclone Gabrielle struck just over 14 months ago.


Machinery & Products

PM opens new Power Farming facility

Morrinsville based Power Farming Group has launched a flagship New Zealand facility in partnership with global construction manufacturer JCB Construction.

AGTEK and ARGO part ways

After 12 years of representing the Landini and McCormick brands in New Zealand, Bay of Plenty-based AGTEK and the brands’…

100 years of Farmall Tractors

Returning after an enforced break, the Wheat and Wheels Rally will take place on the Lauriston -Barhill Road, North-East of…

» Latest Print Issues Online

The Hound

Cut with care

OPINION: The new government has clearly signalled big cuts across the public service.

Bubble burst!

OPINION: Your canine crusader is not surprised by the recent news that New Zealand plant-based ‘fake meat’ business is in…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter