TWO of the Grain Grower Association's (GGA) six members sitting on the GrainCorp board have resigned, despite being entitled to retain their positions until GrainCorp's 2009 annual general meeting.
Bruce Smith, Cootamundra, elected to the GGA board only three months ago, and Victorian, Spencer Millear, have confirmed their departures, and speculation is rising that others may follow.
The move appears to signal an aggressive push by GrainCorp to "cull" its board from 11 to six or seven members following its annual general meeting decision in February to ditch the GGA foundation share which guaranteed all six GGA directors also served as GrainCorp directors.
Some observers suggest the men were pressured to leave.
Extract from: The Land, Thursday, May 15.
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