Wilson re-elected as Fonterra chairman
Fonterra chairman-elect John Wilson has been re-elected to the top table of New Zealand's biggest company, where he will be joined by former farmer watchdog council chairman Blue Read.
Incumbent director Nicola Shadbolt was also re-elected in the dairy giant's 2012 elections.
All three are farmer-elected directors. Eleven candidates, including the successful directors, contested three director vacancies on the board this year. Read, 57, headed the Fonterra Shareholders Council from 2007 to 2010, and helped shepherd in the first proposals for Trading Among Farmers, the controversial capital restructure which last month resulted in units in farmer-held Fonterra shares being listed on the NZX and ASX.
He farms near Urenui in northern Taranaki and had been a shareholders councillor since 2003.
Read is the chairman of the New Zealand Cooperative Business Association and is a former chairman of the Taranaki dairy section of Federated Farmers and chairman of the New Zealand Sharemilkers Association.
Shareholders Rodney Wilson and David Gasquoine were elected unopposed as members of the directors' remuneration committee.
Do you agree with claims that Fonterra is transferring wealth from farmers to unit holders and to the dividend in contradiction of its milk price manual?Related story: Lower milk price 'to boost dividend'