LIC’s Murray King named Co-operative Leader of the Year

15 August 2018

Media release

LIC’s Murray King named Co-operative Leader of the Year

Farmer owned co-operative LIC is pleased to announce its board chairman Murray King has been named Co-operative Leader of the Year at the Co-operative Business NZ Awards 2018.

The annual award recognises those who have shown strong leadership and commitment to the co-operative sector.

A Nelson-based dairy farmer, Murray has a long-standing connection to LIC and the dairy farming community of the upper South Island.

He was first elected to LIC’s board in 2009 and has been re-elected twice as Chairman since 2012.

As Chairman, Murray has steered LIC through a period of significant change and disruption in the dairy sector.

Murray’s vision and leadership was vital to the success of LIC’s recent business-wide transformation initiative, which was implemented to ensure the co-operative remained fit for the future.

It included a share simplification process, which was designed to create a fairer share structure for LIC’s shareholders, and the separation of LIC into two businesses.

To date, the transformation project has delivered $60 million in recurring revenue benefits and $30.7 million in one-off benefits for the co-operative. In its latest annual report the company recorded its highest ever annual revenue amount.

Chief Executive Wayne McNee says, “Murray has shown exceptional leadership over the past three years, navigating unprecedented disruption in our industry and protecting and growing LIC for the benefit of its 10,500 shareholders.

“As a strong advocate for the co-operative model generally, Murray has worked tirelessly to engage and consult with the New Zealand farming community to ensure their voices continue to be heard.”

The award was presented last night at the Cooperative Business NZ’s annual dinner in Christchurch.

For more information on the Co-operative Business NZ Awards, please visit https://nz.coop/agm-annual-awards

To see more on LIC’s financial results for 17/18, please visit www.ayearinreview.lic.co.nz

ENDS

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