CoBank Announces 2023 Board Election Results
DENVER – September 25, 2023 – CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, today announced results of stockholder elections for the bank's 2024 Board of Directors and also for the 2024-2025 Nominating Committee.
Board of Directors Election
A total of four board seats were on the ballot. The names of the successful candidates are listed in the following table, along with region, type of seat, occupation, residence and term expiration date.
| Mid Plains Region Modified Equity seat |
| Michael W. Marley*, Roswell, New Mexico |
- Owner, Corrales Dairy, LLC and Marley Farms, LTD
|
| Term expires in 2027 |
| South Region One Stockholder One Vote seat |
| Gary A. Miller*, Douglasville, Georgia |
- President and CEO, GreyStone Power Corporation and GreyStone Connect
|
| Term expires in 2027 |
| West Region Modified Equity seat |
| Edgar A. Terry*, Ventura, California |
- Owner and President, Terry Farms, Inc.
- Owner and Officer, Amigos Fuerza, Inc., and Moonridge Management, Inc.
- Owner and Officer, Willal, Inc.
- Owner and/or Officer in multiple farmland real estate entities
- Senior adjunct professor at California Lutheran University
|
| Term expires in 2027 |
| Northwest Region Modified Equity seat |
| Susan K. Doverspike, Burns, Oregon |
- Owner, Hotchkiss Company, Inc.
|
| Term expires in 2025** |
|
* Incumbent board member
** Special election to fill the remaining term of a vacant seat.
|
CoBank will have 14 elected directors from six regions in 2024. The board also includes two outside, independent board members with no customer or Farm Credit System affiliation, and two additional appointed directors as provided for under the bank's governance bylaws.
“On behalf of the entire board, I extend our congratulations to these successful candidates and our gratitude for their service to CoBank,” said Kevin Still, CoBank board chair. “We look forward to our continued service to support the bank’s mission to rural America and to further position CoBank for long-term stability and success.”
2024-2025 Nominating Committee Election
CoBank uses an independent Nominating Committee elected by its stockholders to develop a slate of qualified director candidates for each election. The Nominating Committee is composed of customer representatives and former board members that represent the bank's customer base. No current board member may serve as a member of the Nominating Committee.
Stockholders elected all 24 candidates presented on the 2024-2025 Nominating Committee slate for a two-year term.
About CoBank
CoBank is a cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 76,000 farmers, ranchers and other rural borrowers in 23 states around the country. CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.