Business & Finance
Business and Finance
Business and Finance
Wed, September 23, 2009 
CALGARY, ALBERTA--(Marketwire - Sept. 23, 2009) - Viterra Inc. ("Viterra" or the "Company") (TSX:VT) (ASX:VTA) is pleased to confirm that today four former Directors of ABB Grain Ltd. ("ABB") have joined Viterra's Board of Directors. This satisfies a commitment Viterra made to ABB in the merger implementation agreement the two companies signed on May 19, 2009, when they agreed Viterra would acquire ABB.
The additions, which include two Australian growers, will expand the perspective of the Viterra Board, ensuring that it has the benefit of Australian experience in the development of the Company's future global direction. Its corporate governance model will be enhanced with the addition of a Deputy Chairman position, one of the ABB nominees.
"Our new appointments are an excellent complement to Viterra's Board. The former ABB Directors who have been selected to help govern our combined company have the necessary background and breadth of knowledge, not only with a deep understanding of Australia's agriculture industry, but also with respect to government processes and the business environment in Australia and New Zealand. We welcome their insights and individual expertise as we successfully integrate our companies," said Thomas Birks, Chairman of the Board of Directors of Viterra.
Viterra also noted that to facilitate the appointment of these new Directors, because of limitations under the Canadian Business Corporations Act with respect to the number of directors that can be added to the Board at any one time, Mr. Herb Pinder, a long-time Viterra Director, has temporarily resigned from the Board and will act as an observer until spring 2010. Viterra intends to nominate Mr. Pinder for re-election as a Director at the next annual meeting of shareholders.
Viterra's new Directors are:
Mr. Perry Gunner, B.AgSc, Grad. Dip. Bus. Admin
Mr. Gunner was the Chair of ABB's Board and served on its Nomination and Remuneration Committees. He is a Director of Australian Vintage Ltd. and Freedom Nutritional Foods Limited and a previous Director of AusBulk Ltd. Mr. Gunner has been appointed Viterra's Deputy Chairman and will serve on Viterra's Nominating Corporate Governance Committee.
Mr. Max Venning, MAICD (Deputy Chairman)
Mr. Venning was the Deputy Chair of ABB's Board, and served on Nomination and Grower Links Committees. A grower from Bute, South Australia, he is also a previous Director of AusBulk Ltd. and United Grower Holdings Ltd. Mr. Venning will serve on Viterra's Compensation Committee.
Mr. Paul Daniel, FAICD
Mr. Daniel served on the Finance and Audit Committees of ABB's Board. He is a previous Director of Direct Fertilizers Ltd and is a grower from Balaklava, South Australia. Mr. Daniel will join the Board's Audit Committee.
Mr Kevin Osborn, FAICD, FFTA, FPNA
Mr. Osborn was the Chair of ABB's Finance and Audit Committees of the Board, and a member of the Corporate Risk and Compliance and Remuneration Committees. He is Deputy Chairman of Bendigo and Adelaide Bank Ltd and Director of Leaders Institute of SA Inc. Mr. Osborn will participate on Viterra's Audit Committee and a newly formed Safety, Health and Environment Committee.
They join the following individuals who make up the rest of Viterra's Board: Board Chair Thomas Birks, and Directors Vic Bruce, Thomas Chambers, Bonnie DuPont, Tim Hearn, Dallas Howe, Harold Milavsky, Larry Ruud and Mayo Schmidt.
Forward-Looking Information:
This release contains forward looking statements that involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such statements. Important factors that could affect these statements include, without limitation, weather conditions; producer's decisions regarding total planted acreage, crop selection, and utilization levels of farm inputs such as fertilizers and pesticides; grain export levels; changes in government policy and transportation deregulation; world agricultural commodity prices and markets; currency risk; changes in competitive forces including pricing pressures; and global political and economic conditions, including grain subsidy actions of the United States and European Union.
About Viterra:
Viterra Inc. is a global food ingredients agribusiness headquartered in Canada. The Company has extensive operations and distribution capabilities across Western Canada, as well as in Australia and New Zealand, with Adelaide, Australia being Viterra's base for its Southeast Asian operations. Viterra also has offices and operations in the United States, Japan, Singapore, China, Switzerland, and a joint venture in Ukraine. The Company is diversified into sales and services of crop inputs and equipment, grain handling and marketing, livestock feed, food and malt processing and financial products. These operations are complemented by value-added businesses and strategic alliances, which allow Viterra to leverage its pivotal position between growers and destination customers. The Company's common shares are listed on the TSX under the symbol VT. In Australia, Viterra's Chess Depositary Interests (CDIs) are traded on the Australian Securities Exchange (ASX) under the symbol VTA.
