16/03/2010 - 15:50

Conservatives win CBH Group elections

16/03/2010 - 15:50

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CBH Group, one of Western Australia's largest businesses, is likely to remain a cooperative after WA farmers elected directors who are in favour of keeping its current structure.

Conservatives win CBH Group elections

CBH Group, one of Western Australia's largest businesses, is likely to remain a cooperative after WA farmers elected directors who are in favour of keeping its current structure.

Results for the director elections for three districts were received today with incumbent directors Kevin Fuchsbichler and Trevor Badger winning the votes for districts three and four respectively.

Former board member Mick McGinniss was elected for district two. He takes over from Steve Tilbrook who did not re-nominate for this year's elections, which was triggered by changes to the election boundaries.

Mr McGinniss was previously the director of the Kwinana Zone but was voted out early last year with farmers voting in favour of John Hassell.

CBH Group chairman Neil Wandel congratulated Mr Badger and Mr Fuchsbichler on their re-appointments and welcomed Mr McGinniss' return.

""The grains industry has undergone a lot of change since deregulation, bringing with it both challenges and opportunities," Mr Wandel said.

"The Board is committed to working together to represent the best interests of our grower shareholders and ensuring the CBH Group remains viable and relevant in this changing industry environment."

The three new directors will join newly appointed director David Willis in the formal declaration at CBH Group's upcoming annual general meeting.

Mr Willis is taking over from Ken Palmer, who is retiring.

In the lead up to the elections, a group of nominee directors, including Gary McGill, were campaigning to farmers for a change in CBH Group's structure, advocating a listing on the Australian stock exchange for better access to capital and a commercial edge.

However some said that a change would be detrimental to farmers, who would suffer at the expense of shareholders in an ASX-listed structure.

The push for demutualisation has been an ongoing issue for CBH Group for the past 10 years.

In 2000, CBH Group first went to grower shareholders with a demutualisation plan.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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