increase font size
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."
Beef + Lamb New Zealand (BLNZ) says the release of New Zealand's latest Greenhouse Gas Inventory clearly shows agriculture is playing its part in emissions reductions and there is no need for a price on agricultural emissions.
Beef + Lamb New Zealand (B+LNZ) says the Government needs to close loopholes in the guidance around limits on carbon forestry as news of further whole-farm sales emerges.
The chair of Beef + Lamb NZ, Kate Acland says the rush appears to be on to purchase farms and convert them to forestry before new rules limiting this come into effect.
Beef+Lamb New Zealand (B+LNZ) has welcomed the New Zealand Government's announcement that comprehensive free trade agreement (FTA) negotiations have formally commenced with India.
OPINION: We've been having constructive conversations with the Government recently around climate change and emissions from food production, but now is the time to see these conversations turn into action.
New Zealand’s dairy sector cannot expect India to be a market for all its dairy products.
Meat processor ANZCO Foods’ net profit has plunged on the back of lower market returns which squeezed margins and impacted business performance.
OPINION: Most people will be aware of the Government's plans to boost coal, oil and gas production to meet energy requirements.
AgriZeroNZ has entered a new partnership with Britain's national innovation agency, Innovate UK.
Twenty rural community hubs across New Zealand will receive $5,000 to upgrade their facilities having been selected as the winners of Rabobank's Community Hub Competition.
As the dairy industry prepares to celebrate its top achievers at an awards night this Saturday, attendees are being warned to be aware of protests planned outside the venue – Baypark Arena, Mount Mauganaui.
