NEW ZEALAND: Two new directors to join Fonterra board
Fonterra shareholders have elected two new farmer-elected directors and returned one sitting director to the Fonterra board, following a postal ballot declared earlier this week.
Shareholders' Council chairman Tony O'Boyle said the three successful candidates were sitting director Harry Bayliss and new directors John Wilson, from Te Awamutu, and Stuart Nattrass, from Christchurch.
Bayliss, of Manaia, Taranaki, has been on the board since Fonterra's inception and was one of three incumbent directors required to retire by rotation. All three - Bayliss, Richard Booth and Marise James sought re-election, with Booth and James being unsuccessful.
Wilson and Nattrass will join the 13-member Fonterra board on 1 June.
O'Boyle said 49% of Fonterra shareholders voted in the election when voting closed at noon on Friday (23 May), representing 56% of milk solids supplied to the company. This is the same turnout as last year.
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