| ||AWB's AGM results|| ||
AWB Limited Chairman Brendan Stewart today announced results for three director elections, as well as the successful passage of five resolutions, following the company’s Annual General Meeting (AGM) in Melbourne.
AWB is pleased to announced that the following election results:
- Mr Robert Barry has been re-elected as an AWB Limited B class director by B class shareholders.
- Mr Steve Chamarette has been elected as an AWB Limited A class director by WA A class shareholders.
- Mr Ian Donges was re-elected as an AWB (International) Limited A class director by NSW/ACT A class shareholders.
AWB Chairman Brendan Stewart said he thanked all the candidates who nominated for the Board, and was confident that the directors will serve their term on the Board in a positive manner, which will ultimately benefit the company, Australian farmers and our shareholders.
“I would also like to thank Mr Laurie Marshal for his service to the Board of AWB Limited during the past five years, and to the Australian Wheat Board prior to that. This has been a period of great change for the company and Mr Marshal has made an important contribution throughout that evolution,” Mr Stewart said.
The following special resolutions were approved by shareholders at the AGM:
- Casual vacancies for B class directors
- A class share redemption
- Maintaining “Grower” status
- Retiring directors of AWB (international) Limited seeking re-election
“All the amendments are minor improvements to the way that the AWB constitution works and the Board is very pleased to see the amendments approved by shareholders,” said Mr Stewart.
The resolution regarding an increase to the remuneration of non-executive directors was also approved at the AGM.
At the AGM, AWB Managing Director Andrew Lindberg said the company was well poised for this financial year, with the main drivers of the business rebounding strongly after being impacted by drought for the 2002/03 financial year.
“We are leveraging a significantly larger wheat harvest right through business areas such as finance and risk management, pool management, chartering and our other supply chain investments. We are also on track to meet our targets for the integration of our Landmark business,” Mr Lindberg said.