By PHILIPPA STEVENSON agricultural editor
Nominations have opened for the 45-strong shareholder group that will act as a watchdog on the operations of the new Global Dairy Company.
GlobalCo chairman John Roadley said the shareholders council would be there to keep an eye on the company's performance.
The group's constitution says the councillors,
representing 25 wards, are to work with directors to develop the company's cooperative principles and to approve its mission statement and values.
They will also review the board's annual statement of intentions, measure performance and put the views of shareholders to the board.
The council's other role is the unofficial one of creating a pool from which future directors of GlobalCo could be selected.
Mr Roadley said the first council needed to be in place in early August so it could appoint a valuer to determine the fair value range of shares in the co-op. It would also appoint the supplier disputes arbitrator, known as a milk commissioner, in consultation with the Minister of Agriculture.
Nominations close on Wednesday, July 11, and voting papers are expected to be in farmers' hands by July 19. The result is expected to be known on August 6.
Meanwhile, the wait continues for the selection of the GlobalCo chief executive from the three candidates - Dairy Board executives Chris Moller and David Pilkington and Kiwi Dairies chief executive Craig Norgate.
A company spokesman said the twice-postponed appointment was still at least two weeks away.
