New Farmlands chief reflects on shareholder feedback

Incoming Farmlands CEO Tanya Houghton will join our co-operative in September. Here, she provides some insight on her initial interaction with Farmlands’ shareholders.

If we look back at the history of the co-operatives that would eventually become Farmlands, one word springs to mind for me: disruption. Nearly 60 years ago, these co-operatives were formed to be a complete disruptor in the industry, delivering quality products and services at competitive prices. They were singleminded in their focus on doing right by their shareholders – and they were met by resistance as a result. Attempts to cut the co-operatives out of the market were made because they were seen as a legitimate threat. My aim as Chief Executive is to make Farmlands that disruptor again – making sure we are delivering the best we can for our shareholders. Having spent time with Farmlands shareholders at a range of events (including To the Core, Te Hono, Tohunga Tūmau and National Fieldays), a few key themes are emerging for me. Some of you have told me the way we do things today isn’t necessarily what our shareholders will want from us in the future. You’ve told me that as our co-operative has grown larger, it has become less agile and, in some cases, a lot harder to deal with; that specialist knowledge can be hard to access; and that relationships are key. Another collection of feedback (which was quite sobering) is that our shareholder base is very divided. We don’t deliver consistency across our shareholder segments. We have shareholders that love us, others that don’t. We have shareholders that buy everything from us while others do not. Identity is important here. We need to let you know what type of partner we want to be – and can be – to your business. Your food and fibre inputs will evolve with technology and innovation. We want to work with you to understand where it’s heading and deliver what you need. Above anything else, my interactions with shareholders have emphasised that community is at the heart of this sector. The sheer volume of invitations I have received is humbling. So many of them contain food – which is amazing for someone who loves to eat (honestly, I am actively investigating gym memberships to offset the morning tea invites). The shareholders I have spoken with, listened to and shared copious amounts of food with so far are all proud of and actively engaged in their communities. It’s been a constant part of every interaction I’ve had. That said, each community is different and unique in its own right. It’s really important that Farmlands supports this variety of communities – and it feels like that will need to evolve from how we do it today. So thank you for your warm welcome into the wonderful world of Farmlands shareholders. Already I’ve sold gumboots at Mystery Creek, talked to the future of rural governance and learned more about what it means to be a kaitiaki (guardian) of the whenua (land). Every shareholder has a story, just as they did nearly 60 years ago. My challenge is to bring the passion you have for our cooperative to life through our amazing, knowledgeable and professional Farmlanders. Then we can go back to doing what we do best – disrupting. I look forward to talking to you more next month.

| New Chief Executive Tanya Houghton made the most of Fieldays to get to know Farmlands shareholders.