Chris Dennison re-elected to Farmlands Board

Shareholders will not need to vote on Farmlands Director Elections this year, Chris Dennison
following Chris Dennison’s re-election unopposed.

A Director Election was initially planned for the South Island, however the withdrawal of candidates left Chris, who had retired by rotation and was seeking re-election, as the only candidate.

Chris says he is “very pleased” to be re-appointed to the Board. “It is an exciting time to be on the Farmlands Board. With the recent launch of our Braveheart Programme, the co-operative will have access to new technology allowing us to serve our shareholders better and deliver stronger value offers,” he says.

“The Farmlands Board is made up of a great bunch of people with diverse skills from different backgrounds. I look forward to working with them for another term to ensure the co-operative remains relevant to our 70,000 shareholders.”

While Chris has been elected unopposed, two Directors – Southland’s Murray Donald and Farmlands Chairman Lachie Johnstone – are standing down from the Board of Directors.

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 10 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.”

With no Director Election required, Farmlands officially has the six Shareholder Directors in place to effect the new Board structure: Dawn Sangster, Chris Dennison and Rob Hewett (South Island) and Warren Parker, Nikki Davie-Colley and Gray Baldwin (North Island).

Julie Bohnenn and John Journee will be joined by a third Independent Director, with an announcement expected by the end of the year.

Shareholders are invited to join Society leaders for refreshments after the AGM on 21st November in Mystery Creek.
See www.farmlands.co.nz/agm for details