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 McGill runs to corporatise CBH 

McGill runs to corporatise CBH

03 Feb, 2010 09:44 AM
THIS year’s CBH director elections will see a head to head battle waged between the grower shareholders who want the company’s co-operative structure retained, and those who want to see the bulk grain-handling giant adopt a pure commercial structure.

Several candidates have confirmed their nominations and have promised to run similar campaigns, focussed on an unambiguous platform to corporatise the co-operative.

CBH deputy chairman, Wally Newman, issued a notable challenge on company structure late last year, saying if grower shareholders wanted to de-mutualise CBH, they needed to vote in directors who supported a corporate platform.

Pastoralists and Graziers Association executive committee member, Gary McGill, is one of the biggest proponents of the corporatisation argument and he has nominated for the board in District 2.

He has also confirmed that other corporate candidates would be running against sitting directors in Districts 3 and 4.

“The time has come to move to the more simple and effective solution of demutualising CBH and listing it on the Stock Exchange, which will give real value and shareholder equity to CBH shareholders,” he said.

During the campaign Mr McGill will be diametrically opposed to WAFarmers Grain Council President Derek Clauson, who has also confirmed his nomination for District 2.

Mr Clauson promised he would fight hard to retain CBH’s co-operative structure and preserve grower control, if elected.

“I want to ensure growers retain control of their storage and handling and grain marketing organisation,” he said.

* More details to come in Farm Weekly's February 4 print edition.

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Gary Mcgill and the PGA must be operating in a vacuum. Any West Australian grower wondering about the effects corporatisation would have on their equity in their industry should look no further than Graincorp in NSW, and at what has happened to AWB since the company was stolen from growers. What a bunch of fools you all will be if you demutualize CBH.
Posted by mark2, 9/02/2010 7:48:05 AM, on Farm Weekly
Gary, Just a little more patience is required. I for one would prefer you to manage my money and investment in CBH. The clowns trying to restrict CBH's commerical choices wish to run CBH in the same way as their farms and destroy capital. Not a choice for me. All the best Gary.
Posted by farmer, 8/03/2010 12:27:29 PM, on Farm Weekly
It will be beyond belief if WA growers demutualise their bulk handler. Graincorp and AWB are train wrecks and have no respect for producers-CBH will go the same way if the corporate wreckers get contol.
Posted by Realist, 11/03/2010 4:54:37 PM, on Farm Weekly

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Gary McGill
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