Last Wednesday’s AGM also saw the motion to increase the remuneration cap for Murray Irrigation directors increased from $400,000 to $500,000 passed, but only by a small margin.
There were 305 votes in favour of the increase, 269 against and 21 shareholders abstained from voting on the motion.
The increase will be effective from July 1, 2025, and will be adjusted by annual CPI from July 1, 2026.
Five other motions put to the AGM were regarding the appointment of directors.
Now fully inducted shareholder directors Geoff McLeod, Gabrielle Coupland, Leanne Small and Noel Graham were appointed to the board earlier this year to fill casual vacancies.
They were appointed following the resignations of Steve Fawns, Troy Mauger and Brendan Barry, after their motion to remove the sitting independent directors failed in April this year.
To remain on the board, they would need the support of shareholders at the AGM.
Mr McLeod gained votes 466 for and 127 against, Mrs Coupland had 384 for and 195 against, Mrs Small had 412 for and 162 against and Mr Graham had 349 for and 231 against.
The vote to re-appoint Mr Burbury was a little tighter, with 303 voting for his retention and 269 voting against.
In the post-AGM board meeting, Mr Snowden was elected to continue as chairman of MIL.
Mr McLeod replaces Lachlan Marshall as deputy chair, and Mrs Coupland was elected as MIL’s National Irrigators’ Council (NIC) delegate.
The board resolves that all committee chairs remain unchanged, with independent director Trisha Gorman heading up the Remunerations and Nominations Committee, Mr Burbury chair of the Audit and Risk Management Committee and Mr McLeod chairing the Water Policy and Management Committee.
Mr Snowden congratulated the five directors on their Board appointments, and extended his appreciation to shareholders for participating in the AGM process.
The company said more than 120 shareholders participated, with just under half attending online.
“I thank the Independent Selection Committee that was put in place earlier this year to provide recommendations to the board to fill casual member director vacancies,” Mr Snowden said.
“This rigorous selection process culminated in the appointment of Geoff McLeod, Gabrielle Coupland, Leanne Small and Noel Graham AM, which shareholders have today supported with their votes, and has ultimately led to the diverse skills and experience we have on the Murray Irrigation Board today.
“I’m pleased that all the resolutions were carried and that the board now has the confidence, with shareholder support, to continue to work towards the company’s strategic plan and deliver for our farmers, the community and the environment.”
Shareholders with questions about the AGM results can contact the company secretary on 1300 138 265 or email companysecretary@murrayirrigation.com.au.
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