A general meeting of WCB shareholders in Melbourne on Friday morning will vote on changes to the Allansford dairy company’s constitution and elect five directors to the board.
The new directors include Mr Saputo, who is chief executive officer and vice-chairman of Canada’s Saputo Inc. which won a three-way battle for WCB earlier this year.
Saputo Inc. holds 87.92 per cent of WCB, falling just short of the critical 90 per cent required to allow it to take full control of the Western District dairy processor.
Saputo executive vice-president of finance and administration Louis-Philippe Carriere will also be elected to the WCB board on Friday, while existing supplier directors Terry Richardson and Bruce Vallance and non-executive director Neville Fielke will be re-elected.
Saputo chief operating officer Dino Della-Sbarba will become an associate director of WCB.
A meeting of directors after the general meeting was expected to elect Mr Saputo as the company’s new chairman, replacing Mr Richardson.
WCB CEO David Lord will remain in his executive position.
Former CEO and managing director John McLean will become a consultant to the board.
Mr Lord said the company would retain its pricing policy committee, supplier relations committee and supplier advisory forum.