Delegates to the CHS Annual Meeting have approved amendments to the CHS Articles of Incorporation and Bylaws. The amendments created a new membership class structure and criteria.
“We appreciate our owners’ commitment to the governance of the company they own, as evidenced by their strong interest in the proposed changes to the core CHS governing documents” says CHS Board Chairman David Bielenberg. “Having a voice in the governance of the company you own and do business with is an essential point of difference of the cooperative business model.”
The two resolutions – one amending the company’s articles and the other amending the CHS bylaws – each received a “yes” vote of more than 86 percent.
When the CHS Board reconvenes in 2017, it will work to develop procedures regarding implementation and for members to periodically certify their ongoing eligibility for their membership class. “We are committed to keeping members fully informed,” Bielenberg says.
Steve Fritel, chairman of the CHS Board’s Governance Committee, says the board took its commitment to communication seriously by listening to owners, keeping the proposed changes simple and ensuring there was time for learning and conversation.
“Our goal is always to ensure that CHS remains an agricultural-focused and producer-governed cooperative,” Fritel said. “At the same time, we also recognize we must accommodate our current members as they change to stay relevant to their customers. Our articles and bylaws need to line up with the ways our members do business today, while recognizing the strong heritage of the member cooperatives who built today’s CHS.”