Media Statement
Sunday 8 July 2001 For Immediate Release
Shareholders’ Council Nominations Needed By Wednesday
Dairy farmers have been reminded that Wednesday is the deadline for nominations for the Global Dairy Company
Shareholders’ Council.
Global Dairy Company Chairman John Roadley says nominations began to “trickle in” after shareholders received an
information pack early last week and the company is geared up for larger numbers over the next three days. He urged as
many shareholders as possible to give serious thought to standing for the council to ensure it is as representative as
possible.
“The Shareholders’ Council will be an independent watchdog over the company’s performance,” Mr Roadley says. “It will
have an important role in working with the board to develop the company’s co-operative principles. It will approve the
company’s mission statement and values. It will review the board’s annual statement of intentions and actual performance
against it. And it will represent the views of shareholders to the board on an ongoing basis.”
Mr Roadley says the council will have important decisions to make as soon as it is elected. “The first job will be to
appoint a Valuer to determine the Fair Value Range of shares in the co-op. The council must also appoint the Milk
Commissioner, in consultation with a Minister, to consider complaints from suppliers that can’t be resolved between the
parties.”
Mr Roadley says the council will also play an important role in ensuring there is a pool of shareholders with the skills
and experience to be the Global Dairy Company directors of the future.
more …
Nominations for the council are needed by noon on Wednesday and can be faxed to 09 3780971. Voting papers will be posted
on 19 July and the deadline for postal votes to be received by Global Dairy Company is noon on 3 August. Results will be
announced on 6 August.
All nominees will receive preliminary training on 26 July at a venue to be confirmed and successful candidates will
receive further training in August.
END