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10 Days to Go In Fonterra Director Elections

Fonterra's shareholders have just 10 days to decide which of the 11 candidates standing for election to the Fonterra Board will fill the three vacant farmer-elected positions.

Shareholders have started voting in the election, using the Single Transferable Voting (STV) system, and need to return their voting papers by noon on May 23.

Joint Returning Officers Carolyn Mason and Mike Linnegar say shareholders were sent voting packs for the elections on April 28. They contained the voting papers, a video and profiles of each of the candidates, and information on the STV voting system.

The STV system being used requires shareholders to rank candidates in their order of preference, from number '1' to - in the case of this election - number '11'.

Ms Mason and Mr Linnegar say with such a large number of candidates standing, it is even more important that shareholders rank all the candidates, rather than just the first one or two.

"If a shareholder ranks all their preferences their vote can transfer to their other choices if their first choice has more votes than they need for election. Under STV, their vote can also transfer to their other preferences if their first choice has too few votes to remain in the contest.

"The system ensures that more votes count," they say.

Fonterra shareholders receive one vote for every 1000kg milksolids produced in the year to May 2002.

Ms Mason and Mr Linnegar have also organised a series of 'meet the candidate' meetings throughout the country to assist shareholders in making their preferences.

The format of the meetings has been well received. They say shareholders have been split into groups of 11 at the meetings, with each candidate spending a designated time with each group before moving on.

The last three meetings are being held today in Invercargill and Balclutha, and tomorrow in Ashburton.

Further information on the elections is available on the supplier-only section of www.fencepost.com http://www.fencepost.com/

The results will be known on May 26.




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