New Co-Operative Chair and changes to the Board

"Posted" 01/05/2019

Richard Young was announced as Silver Fern Farms Co-operative Limited’s incoming Chair at Silver Fern Farms Co-operative Limited’s Annual Meeting in Dunedin today.

Rob Hewett passed on the role to Richard Young as the first stage of a planned succession for the Co-operative and Silver Fern Farms Limited. Mr Hewett stays on as the Co-Chair of Silver Fern Farms Limited and remains a Director of the Co-operative.

“While I will remain an active member of the Co-operative Board, this is the first stage of long-planned succession for our Co-operative and Silver Fern Farms Limited. I would like to thank the Co-operative Board for their support of both Richard and I during the development of this succession plan, and during the Chair transition,” Mr Hewett said.

“I would like to thank shareholders for their continued and valued support of our Co-operative, and personally for the support and advice I have received while in this role over the past 6 years.”

Richard Young said he was determined to continue to progress being made by the Co-operative.

“The Co-operative has been set up well to reward shareholders through their investment in Silver Fern Farms. We will continue to maintain a high level of oversight to make sure Silver Fern Farms performs to expectations, while delivering services to our shareholders, such as our governance and scholarship programmes.”

Mid-Canterbury sheep and arable farmer Gabrielle Thompson was announced as Silver Fern Farms Co-operative’s first Board Appointed Farmer Director. A trained veterinarian and Chartered member of the Institute of Directors, Gabrielle is also a Director of Rural Co.

Independent Director Tony Balfour stepped down from the Co-operative’s Board, ending a 10 year association with Silver Fern Farms. Tony joined the Board in 2009.

“Tony was the Board’s first independent director with consumer marketing experience and his experience added much-needed diversity of thought to Silver Fern Farms and has supported the evolution to Silver Fern Farms and the brand we are so proud of today,” Rob Hewett said.