A woman with backgrounds in both law and accounting has been appointed as an independent director on the Livestock Improvement Corporation Board.
Abigail (Abby) Foote replaces Jason Dale, who has retired after two years on the board and shareholders ratified her appointment at the farmer-owner co-operative’s annual meeting today, Wednesday October 22.
Abigail Foote is LIC’s new independent director. Chairman Murray King says the board and shareholder council unanimously recommended Abby’s appointment for a three-year term. “With qualifications in both law and accounting, Abby’s career has straddled both disciplines, focusing on corporate finance and commercial transactions. “She has a breadth of experience in a number of diverse areas including mergers and acquisitions, treasury and structured finance transactions, telecommunications, management of large projects and strategic development and implementation.” Abby is currently a director and Chair of the Audit and Risk Committees of Z Energy Limited, BNZ Life Insurance Limited and the New Zealand Local Government Funding Agency and is a director of Transpower New Zealand Limited. She will chair LIC’s Audit, Finance and Risk Committee. Murray also acknowledged Jason Dale’s contribution since his appointment in 2008. “I want to express our thanks to Jason for his skill and diligence in chairing LIC’s Audit, Finance and Risk committee.” The LIC Board is made up of seven farmer elected directors, and three independent directors. Other resolutions passed at the Annual Meeting include the reappointment of external auditor KMPG, and the approval of the shareholder council’s budget.
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