FERTILISER Reactive phosphate rock blends a cause for concern? PAGE 21-22
MACHINERY UN report encourages machinery makers to think small. PAGE 29
RURALNEWS
MIND THAT CHILD RWNZ president Wendy McGowan reminds motorists about road safety.
PAGE 10
TO ALL FARMERS, FOR ALL FARMERS
FEBRUARY 4, 2014: ISSUE 554
www.ruralnews.co.nz
MIE man pulls out of contest P E TE R BU R K E peterb@ruralnews.co.nz
FONTERRA DIRECTOR John Monaghan is out of the running for an independent directorship of meat co-op Alliance Group. Alliance chairman Murray Taggart told Rural News Monaghan has withdrawn from the selection process for appointing a new independent director so he won’t be considered. “As a board we have mapped out the strengths and weaknesses around the board table and also the skill set we’re
looking for. We have asked the consultant we are using for a list of names based on a well-known set of criteria,” he says. “Following the AGM we told the consultant they needed to get hold of John Monaghan and put him through the process.” Taggart says the consultant was told that if John Monaghan met the criteria he should be put on the shortlist. But subsequently Monaghan has withdrawn from that process.
Taggart says the board is not going to appoint anyone who is not prepared to go through the board process. “We have a legal responsibility as directors to act in the best interests of the company and part of that involves getting the best person for the job,” Taggart explained.“If you look at it, over the years, Alliance has outperformed the rest of the industry… by getting the best people and we don’t intend to stray from that.” Support for Monaghan has come
from the Meat Industry Excellence (MIE) organisation with its chairman John McCarthy telling the Alliance board to “listen to its shareholders and do the right thing”. “I know John McCarthy will argue an overwhelming mandate, but actually we don’t see it like that,” Taggart adds. “The vote was only 53% in favour in terms of the actual resolution, but you have to remember that 85% of the shareholders either didn’t vote for the resolution or voted against it – so it’s
John Monaghan – no longer a contender for the Alliance Group board.
CASE CLEARS KALE HARVEST CONTINUED apace in the South Island last week with headers into herbage seeds, barley, oilseeds and even early wheats. Alan Newton’s Case 7010 axial flow header was reeling in seed kale off irrigated light land late last week. “It seems to be running really well,” he told Rural News. Seed rape also pleased, grass seed so far has been “normal to quite good” but autumn-sown barley “reasonably average.” The kale yield was a pleasant surprise given it was hit by a late frost at flowering, but the light land was probably an advantage following the end-of-June deluge which left many Canterbury and Otago soils saturated all winter. More harvest reports p4.
not overwhelming.” He says the [shareholders] had only one candidate to vote for and didn’t know the other people on the list. “It’s been a North Korean election the way it’s run; while it looks simple from John’s point of view it’s not actually that simple when you look at the bigger picture,” Taggart says. “[Monaghan’s] ruled himself out of the current process. I don’t know where he sits otherwise. “He can stand as a farmer director next year if he buys some stock and some shares.” Taggart says the one directorship vacancy is being filled by the board via its selection process, but Monaghan’s withdrawal from this process means he will not get the seat. “The board hasn’t made any decisions yet. But let’s be realistic, if you pull out of the selection process you are not going to be considered.”
Up to our elbows in it since 1905. FMG0342A
We haven’t spent the last century sitting around with our feet up. We’ve been working hard to protect rural New Zealanders by advising them on the risks out here. And with more farmers and growers insuring with us than ever before, it’s a good thing we’ve got that experience to call upon. Ask around about us, or for some advice call 0800 366 466.
That’s what works out here.