Survey shows most Fonterra farmers plan to use capital return for debt reduction
A large slice of the $3.2 billion proposed capital return for Fonterra farmer shareholders could end up with the banks.
This year's Fonterra elections are being held for three seats on the board of directors and the five wards in the Shareholders Council: Wards 8 (Hamilton), 9 (Morrinsville), 17 (Eastern Bay of Plenty), 23 (Egmont Plains) and 32 (Southern Canterbury).
There are eleven candidates standing for the board of directors' election: Blue Read, Donna Smit, Eric Ray, Grant Cochrane, Grant Rowan, Jacqueline Rowarth, Jan Marten Kingma, Lachie Cameron, Michael Spaans and the two incumbent directors John Wilson and Nicola Shadbolt.
Fonterra shareholders have the opportunity to meet candidates at the directors' election candidate roadshow on December 3-7.
Shareholders can vote by internet, fax or post using the Single Transferable Vote (STV) system. The results will be announced at Fonterra's annual meeting in Hamilton on Monday, December 17.
