News and Events

Board changes mean one Director sought for South Island

Farmlands Co-operative is calling for nominations for its 2019 South Island Director Election.

One seat is available, with Southland Director Murray Donald joining Farmlands Chairman Lachie Johnstone in standing down from the Board of Directors. Farmlands Director Chris Dennison retires from the Board by rotation and is seeking re-election.

The announcements from both Murray and Lachie gives the co-operative the opportunity to effect changes to the Board’s structure, as approved by shareholders at the Annual General Meeting in Hokitika last November.

The changes to the structure of Farmlands’ Board of Directors include:

  • Reducing the total number of Directors from ten to nine
  • Reducing the number of Shareholder Directors from eight to six (three in each Island)
  • Increasing the number of Independent Directors from two to three (from either Island)

Lachie says with two Directors standing down – one from each Island – now is the right time to implement the changes. “Our shareholders agreed unanimously at the last AGM that we should make changes to strengthen the governance capabilities of our Board,” he says. “With Murray’s decision to stand down, we have an opportunity to make the change seamless for our Shareholder Directors.”

While Lachie is standing down, there will be no North Island Director Election this year. Aligned with the new Board structure, three Shareholder Directors will remain in the North Island – Nikki Davies-Colley, Warren Parker and Gray Baldwin.

 “The Board positions of both myself and Murray Donald will not be replaced, leaving us with three Shareholder Directors for each Island. I want to commend Murray for his contribution to our Board during his term – he has brought significant expertise to the role and has been a strong advocate for our shareholders.”

One additional Independent Director is still to be appointed.