Ruralco election process a chance to have your say

The upcoming Ruralco Board election process is an important time for all shareholders to have their say on oversight of the co-operative and how it moves forward. WORDS BY ANITA BODY

“The election process is essential to ensure we have good shareholder engagement,” says Ruralco Chair, Jessie Chan. “As a co-operative, our shareholders own the business, which means it is their business and they need to have a say. This election process determines how we retain our control of the co-operative.” “It is important that people engage in the process, both through nominations for Directors and through the voting process. We need as many shareholders as possible to vote and exercise their right to have their say.” Currently the Board is made up of five farmer-elected Directors (Jessie, Kate Acland, Andrew Barlass, Sir David Carter, and Tony Coltman), and two independent Directors (Sue Lindsay and Brent Wheeler) who are appointed by the Board. As per the co-operative rules, all elected Directors are on a threeyear rotation, which means there is always an opportunity for new Director nominations. Jessie believes there are many talented people within the Ruralco co-operative. “We have plenty of people who have good governance and business experience, and I am confident we have the talent out there.” While there are no specific skills mandated for prospective Directors, it is highly recommended that they have a background in governance and business, they are critical thinkers, team players, and have a real passion for the Ruralco co-operative and a desire to continue driving it forward. “It’s also great to have an inter-generational view so we can also look forward and ask the questions around what the next generation wants from their co-operative.” It is not a case of new directors cutting their teeth on the Ruralco Board, with the Board having a substantial history of professionalism and expertise rivalling other high-profile boards of directors around the country. The Board has oversight of the business and sets the vision and purpose. “This should reflect what the shareholders need. It is also responsible for ensuring financial and fiduciary obligations are met along with good decision making for the future of the business,” says Jessie. Being a director also creates the opportunity to give back or contribute in a meaningful way to the wider community. While there are currently some skill sets which are desirable, such as experience in finance or digital technology, the ability to appoint independent Directors has provided the opportunity to make appointments for specific tasks or junctions which has worked really well to ensure all knowledge bases are covered. This year Ruralco are also seeking a new independent Director to replace Brent Wheeler who will be finishing his term at this AGM. “Our Board has been celebrated for its diversity, and I think that comes from the varying range of skills and backgrounds that we have attracted to the Board. There is no one single profile which ticks the box, it is about thought diversity—we make better decisions if we think from different angles and that in turn enhances the outcomes for the co-operative,” says Jessie. This year the Directors up for rotation are Jessie Chan and Tony Coltman, with Jessie indicating she will not be seeking re-election, while Tony has indicated he will be seeking re-election. Nominations are currently open, and close at 5.30pm Wednesday 12 October 2022. The election will take place at this year’s 59th Annual General Meeting which will be held on Wednesday 23 November 2022 in Ashburton. This is an exciting time to join Ruralco’s highly professional and experienced Board of Directors. The calibre and capability of the Board is extremely high, and it is a place where experienced directors can thrive and help to shape the strategic direction of a growing business. Nomination forms are available to download from our website www.ruralco.co.nz/agm or call our team on 0800 787 256, or collect from your local store in either Ashburton, Methven or Rakaia or the Head Office at 98 Burnett Street, Ashburton.

IMAGE: Jessie Chan, Ruralco Chair

Our obsession is working together

Ruralco and Meridian have joined forces to install an electric charging station at Ruralco’s Ashburton store site.

Accessed from Burnett Street, the new EV charging station provides four charging points via two charging stations at the site. The 22kW AC chargers will be available free of charge for the first 12 months.

0800 787 256 RURALCO.CO.NZ

Free Charging * T&CS APPLY