Fonterra director John Monaghan has decided to pull out of a
process to appoint an independent director to the board of
Alliance Group, chairman Murray Taggart says.
Earlier this week, Meat Industry Excellence called on
Alliance Group to tell shareholders what was happening with
its independent director appointment.
Last month, a non-binding shareholder resolution seeking the
appointment of Mr Monaghan to the board as an independent
director was passed.
The company's board had previously said Mr Monaghan did not
have the skill set and experience being sought.
In October, Mr Monaghan's nomination in its supplier
representative director election was rejected.
He failed to meet criteria set out in the company's
constitution, as his interest in Ngapara Farms, an Alliance
Group shareholder, was too small.
Two Alliance Group shareholders, Mark Patterson, from
Lawrence, and Mandy Bell, from Wanaka, then put forward a
resolution to the company's annual meeting in December,
asking the board to appoint him to replace retired
independent director Owen Poole.
Yesterday, Mr Taggart said the company was still going
through a process to appoint an independent director.
Following the annual meeting, Mr Monaghan was invited to meet
the consultants being used by the company, as part of the
appointment process, and join that process.
He recently decided to pull out and he was now ''pretty
unlikely to make the short list'', Mr Taggart said.
The 53% of the vote in favour of Mr Monaghan's appointment
was not an overwhelming figure - 85% of shareholders either
voted against it or did not vote, he said.