Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Outgoing Zespri chairman Peter McBride and South Canterbury farmer Leonie Guiney have been voted onto Fonterra’s board.
However, a third director couldn’t be elected as the unsuccessful candidates - sitting director Ashley Waugh and Jamie Tuuta and John Nicholls failed to get 50% yes vote among the votes cast.
In accordance with the rules for election of directors, a second election must take place. Details of process and timing will be communicated to shareholders in due course. The board may appoint a director to fill the vacancy until the next election, but may not appoint an unsuccessful candidate.
Outgoing director Nicola Shadbolt could be asked to continue serving on the board until the new election.
McBride lives at Te Puna and has farming interests in the Waikato and Bay of Plenty. He has extensive experience in the kiwifruit industry and has recently announced that he will step down as chairman of Zespri in February.
Guiney lives and farms near Fairlie, where she is a director of four dairy farming companies. She previously served on the Fonterra Board from 2014 to 2017.
Guiney’s nomination was supported by farmers and she bypassed the independent nomination process.
The three candidates chosen by the independent nomination process and backed by the board were McBride, Tuuta and Waugh.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
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.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
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