Beef + Lamb NZ Annual Meeting: Director fee increase passes narrowly

Beef + Lamb NZ's voter turnout represented 7.43% of registered sheep, beef and dairy farmers, which was low but not unprecedented. Photo / Murray Robertson

At the Beef + Lamb New Zealand annual meeting today, a resolution to increase directors’ fees was confirmed by a narrow margin, and the appointment of KPMG as auditor was confirmed.

Around 70 people attended the meeting, held as part of the Out the Gate farmer event in Rotorua, to hear updates on the organisation’s achievements over the past year and what’s planned for 2025.

Chairwoman Kate Acland said that Beef + Lamb NZ’s refreshed strategy was a response to the challenges farmers currently faced.

She said the strategy would set farmers, the organisation and the sector up well for the future.

“As farmers, we’re good at looking forward, adapting and innovating to meet challenges.

“I’m excited about the opportunities before us and B+LNZ’s role in that future.”

Chief executive Alan Thomson provided more detail on each area under the refreshed strategy and noted the organisation’s focus was on fully implementing the strategy, delivering on the new initiatives to maximise the benefits for farmers and measuring impact.

“B+LNZ’s recent Mid-Season Update showed that export receipts are forecast to increase by $1.2 billion in 2024-25,” he said.

“While profitability is rebounding, we know farmers remain concerned about key policy areas like climate change and freshwater, so we’ll continue to advocate strongly for our farmers.

“Our sector wants to avoid unnecessary costs and needs certainty to have the confidence to invest in the future.”

Both Acland and Thomson noted the importance of B+LNZ’s Farmer Council and Kāhui (Māori advisory group) as a way of keeping the organisation “by farmers for farmers”.

The B+LNZ Farmer Council and Kāhui were integral to the development of the Out the Gate event.

B+LNZ AGM results

The results of two company resolutions, to increase directors’ fees and to reappoint KPMG as auditor, are now finalised following the meeting.

The first resolution on director fees was narrowly supported, with 50.62% voting in favour.

The second resolution on the appointment of the auditor was supported, with 96.83% in favour.

The voter turnout represented 7.43% of registered sheep, beef and dairy farmers.

While this is low, it is not unprecedented, and it roughly aligns with other industry groups’ processes.

“We’ll continue to keep emphasising to farmers that it’s important they have their say on the running of their levy-funded organisation,” Acland said.

The results of the Western North Island farmer director election were announced on March 20, with Rangītikei hill country farmer Andrew Stewart being elected.

Stewart received 4233 weighted votes, while his opponent and current Western North Island director Scott Gower, who stood for re-election, received 3502 weighted votes – a winning margin of 731.