Ballance director Oliver Saxton elects to stand down

27 November 2015

Ballance director Oliver Saxton elects to stand down in 2016

Long-serving Ballance Agri-Nutrients director, Oliver Saxton has signalled his intention to step down from the co-operative’s board at its annual meeting of shareholders in September 2016.

Mr Saxton, who has been a Ward A director since 2001, runs a 580 hectare bull beef and dairy support farm in the Waikato and has dairying interests in Canterbury and Southland.

“Ballance is in good hands, and good shape. I’m leaving a progressive co-operative with an exciting growth strategy, good culture, smart board and strong leadership. Ballance is well-positioned to take advantage of the many opportunities in front of it, including the possible redevelopment of the Kapuni urea plant.”

Ballance Chairman, David Peacocke, says Mr Saxton drew on extensive experience from his banking, commercial property management and development and farming background to make a valued contribution to the Ballance board.

“We have been grateful for his long service. Oliver has seen us come through significant changes, including the Ballance brand launch in 2001, the development of a national service centre network, a return to full farmer ownership in 2005 and the acquisitions of Summit Quinphos, SealesWinslow and Ag Hub. He has been an important part of our evolution and growth, including the growth in our shareholder numbers.

“We also appreciate his early advice of his decision as it gives potential candidates ample time to consider running well ahead of nominations being sought, particularly given recent shareholder-approved changes to our constitution regarding our wards. Our revenue has more than doubled in the time Mr Saxton has served on the board, and being close to a $1 billion business means we need to attract the best for our governance.”

The constitutional changes mean Ballance has moved from a three-ward system to two, one in each island. Candidates seeking to replace Mr Saxton will therefore contest the North Island ward, with all shareholders in the North Island eligible to vote.

Mr Saxton holds a Bachelor of Commerce in Agriculture, completed the Kellogg's Rural Leadership Management Course in 2001, and is a Chartered Member of the Institute of Directors.

ENDS

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