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.
Federated Farmers president Wayne Langford is claiming “some real success” on the 12 policy priorities it placed before the Coalition Government.
Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.