Kia ora koutou e te whānau o Wakatū,
Following my recent email regarding the history and structure of Wakatū, in this pānui, I would like to share some information about the election process for new Board members.
This is in response to feedback and questions we received from Wakatū shareholders and whānau about the AGM 2023, the election, and its outcomes.
This email is the second in a short series of pānui, videos, and social media in the lead-up to our Special General Meeting (SGM) on Saturday 23 March, in Wellington.
It complements a printed booklet, ‘Wakatū Incorporation and your role as a shareholder,’ that you’ll receive via email or post alongside other SGM materials in advance of the meeting.
Please keep an eye out and let us know at any time if you have any further questions or would like more information.
Ngā mihi maioha,
Johnny McGregor
Wakatū Incorporation - Chair
The Election Process for New Board Members – Key Points
As a Māori Incorporation, Wakatū is regulated and guided by the provisions of Te Ture Whenua Māori Act 1993 and the Māori Incorporation Regulations. These determine the processes and rules of our Board elections.
Our Board (Committee of Management) is made up of seven members, called directors: https://www.wakatu.org/our-people
Owners nominate and elect Board members on an annual basis. Nominations for new Board members are made in writing, signed by the Owner making the nomination and accepted in writing by the person nominated.
Under Te Ture Whenua Maori Act 1993, anyone can be appointed or elected to the Committee of Management. A member does not need to be a shareholder in the Māori incorporation or a member of the whānau, but they must be nominated by a shareholder.
When an election is held, Owners cast a vote for their chosen nominee and votes are weighted according to each Owner’s shareholding.
Owners vote either as individual shareholders or as a whānau trust. Noting that one person or one trust may have several shares and their vote is weighted according to their shareholding.
Where an Owner is a whānau trust, the trustee votes on behalf of the whānau trust, according to their shareholding.
Once elected, directors hold office for up to three years. The terms of two or three directors expire each year, but the directors can stand for re-election. If the directors stand for re-election and no other nominations are received then there is no election held.
The role of the Board member is important and significant. Any person considering standing for this role needs to be aware of the roles and responsibilities of directors under the relevant legislation and have the experience and expertise required to govern effectively. Further information is available at the Institute of Directors New Zealand: www.iod.org.nz
Board Chair Johnny McGregor introduces the special resolution proposed at the Special General Meeting
Join us at the Wakatū Special General Meeting
Date and time: Saturday 23 March, 9am (registrations open 8am)
Location: Tākina (new events centre opposite Te Papa), Te Whanganui-a-Tara, Wellington
We welcome all shareholders and whānau to attend the SGM. To help us with our planning, we ask that everyone attending the SGM submit their RSVP by Friday 8 March 2024 by clicking the RSVP button below:
Registration for shareholders
On the day of the SGM, all shareholders will need to register their attendance with Te Tāhuhu - our Owner liaison team. Registration for the SGM is easier if you bring your shareholder number with you.
Everyone who brings their shareholder number with them will go into the draw to win one of two mystery prizes, drawn on the day of the SGM.
If you don’t know your shareholder number, please get in touch before the SGM by phone 03 546 8648 or by email.