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- Release Date: 02/05/12 14:38
- Summary: S/HOLDER: LIC: Election begins for two Directors for farmer cooperative
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LIC
02/05/2012 12:38
S/HOLDER
REL: 1238 HRS Livestock Improvement Corporation Limited (NS)
S/HOLDER: LIC: Election begins for two Directors for farmer cooperative
LIC shareholders encouraged to vote
The retiring Chairman of dairy farmer owned cooperative LIC, Stuart Bay, is
encouraging shareholders to vote in upcoming elections for two new members to
the Co-operative's Board of Directors.
Mr Bay and fellow farmer Director, Ted Coats, both representing the Midland
region, will retire in May after 23 years and 16 years respectively. (The
Midland region takes in Coromandel, Hauraki Plains, Waikato, King Country,
Bay of Plenty and East Coast down to Wairoa).
Nominations for the positions have been received from nine farmer
shareholders and circulated to LIC shareholders for consideration and voting.
Shareholders have until 4 pm on Friday 25 May to cast their votes either
electronically, or by mail, and the results will be announced by 31 May.
LIC's Board is made up of seven farmer and three independent Directors.
Farmer Directors are elected by shareholders in four defined regions -
Northland, Midland, Central and the South Island. One Director represents
Northland with the other three regions represented by two Directors each.
Stuart Bay said that voting for their farmer representatives on the governing
Board is one of the most important roles for shareholders in a cooperative.
"LIC has a proud heritage of innovation to the dairy industry and provides
products and services to the majority of New Zealand dairy farmers. The
Cooperative is poised for another period of growth and it is vital that we
have strong farmer governance at the Board table to steer our Cooperative
into the future.
"We have received nominations from nine high calibre nominees and I encourage
all shareholders to take time to consider their profiles, and vote to ensure
that LIC has a strong and effective Board for their Cooperative."
ends
End CA:00222467 For:LIC Type:S/HOLDER Time:2012-05-02 12:38:57
