Viterra Inc.

Viterra Inc.
Saskatchewan Wheat Pool Inc.
TSX : VT

March 12, 2008 18:21 ET

Viterra Hosts First Annual and Special Meeting for Shareholders

WINNIPEG, MANITOBA--(Marketwire - March 12, 2008) - Viterra (TSX:VT) held its annual meeting of common shareholders today, marking the Company's first since its acquisition of Agricore United (AU) on May 29, 2007.

As part of the formal business of the meeting, shareholders voted to re-elect ten directors to the Board and approve the appointment of two new directors, Ms. Bonnie DuPont and Mr. Larry Ruud. Shareholders also re-appointed Deloitte & Touche LLP as the company's auditors.

Two additional resolutions proposed by Viterra's Board were also put to a shareholder vote. First, shareholders approved, by way of special resolutions, an amendment to the Articles of the Company to formally change the corporate name to "Viterra Inc.". The Company has been operating under the Viterra banner since it launched its new brand on August 30, 2007. Shareholders also ratified amendments to the Company's Management Stock Option Plan.

The company acknowledged the contributions of Rick Jensen, who this year completed his tenure as a director. Viterra's twelve member Board consists of the following:

- Mr. Ryan Anderson, Viterra director, is a graduate of the University of Saskatchewan's Agriculture program. He has served as a Viterra Director since 1998 and sits on the company's Audit Committee. Mr. Anderson operates a grain, oilseed and pulse crop operation near Melfort, Saskatchewan.

- Mr. Terry Baker, Chairman of the Board, has served on Viterra's Board of Directors since 2001. He holds a civil engineering degree from the University of Saskatchewan. Currently, he is the Chairman of the Board and also a member of the Strategic and Business Planning Committee. Mr. Baker runs a mixed farming operation near Denzil, Saskatchewan.

- Mr. Vic Bruce has been a Viterra Director since 2002 and sits on the company's Compensation Committee. He has served on various Boards, including the Farm Land Security Board. Mr. Bruce holds a Bachelor of Education degree, majoring in economics at the University of Calgary. He specializes in pedigreed seed production through a family operation located near Tuxford, Saskatchewan.

- Mr. Thomas Birks was elected to the Board in March 2005. Mr. Birks is the President of Birinco Inc., a merchant bank headquartered in Quebec. He received a Bachelor of Arts degree from McGill University and an MBA from Harvard Business School. He serves on the Audit and Nominating/Corporate Governance Committees of the Board.

- Mr. Thomas Chambers joined the Board in June 2006, and chairs Viterra's Audit Committee and is a member of its Compensation Committee. He is an experienced professional accountant, most notably having served for 26 years as a Partner with PricewaterhouseCoopers LLP.

- Ms. Bonnie Dupont was newly elected to Viterra's Board at this meeting. She is a Group Vice President with Enbridge Inc. in Calgary, AB. Ms. DuPont earned her Masters Degree from the University of Calgary and holds a Bachelor Degree (Great Distinction) with a focus in Program Administration & Evaluation and Psychology from the University of Regina.

- Mr. Dallas Howe joined Viterra's Board in March of 2005 and chairs the Compensation Committee. He is also the Chairman of the Potash Corporation's Board of Directors. Mr. Howe holds a Bachelor of Arts Degree and a Masters in Mathematics from the University of Saskatchewan.

- Doug Kitchen, Vice-Chairman of the Board, joined Viterra's Board in July 2000. Mr. Kitchen is a graduate of Kansas State University with specialties in agriculture and business. He is currently Managing Director of Rosenthal Collins, a world leader in futures and foreign exchange execution. Mr. Kitchen is a member of Viterra's Nominating/Corporate Governance Committee of the Board.

- Harold Milavsky has been a Board director since 2003 and is Chairman and Director of Quantico Capital Corporation in Calgary. He holds a Bachelor of Commerce Degree from the University of Saskatchewan and is a member of the Institute of Chartered Accountants of Saskatchewan and Alberta. He has received honorary doctorates from the universities of Calgary and Saskatchewan. Mr. Milavsky chairs the Nominating/Corporate Governance Committee and sits on the Audit Committee of the Board.

- Herb Pinder has been on the Board of Directors of Viterra since 2003, serving on the Nominating/Corporate Government Committee. He is the President of the Goal Group of Companies, based in Saskatoon, Saskatchewan. A non-practicing lawyer, Mr. Pinder holds an MBA from Harvard Business School.

- Larry Ruud was newly elected to Viterra's Board at this meeting. He is a partner with Meyers Norris Penny LLP and provides farm management consulting services in Alberta and B.C. Mr. Ruud holds a Masters of Science and Bachelor of Science Degrees in Agricultural Economics from the University of Alberta. He owns and operates a farm near Vermilion, AB.

- Mayo Schmidt, Viterra's President and Chief Executive Officer, joined the Board in March 2005. He joined the Viterra in 2000 after holding a number of senior executive positions with ConAgra and General Mills Inc. Mr. Schmidt earned his Bachelor of Business Administration Degree from Washburn University, and is a Washburn Alumni Fellow.

Complete biographies of each director can be found at www.viterra.ca.

Saskatchewan Wheat Pool Inc., doing business as Viterra, is Canada's leading agri-business, with extensive operations and distribution capabilities across Western Canada, and with operations in the United States and Japan. The new company is diversified into sales of crop input services and equipment, grain handling and marketing, livestock feed, agri-food processing and financial products. These operations are complemented by value-added businesses and strategic alliances, which allow Viterra to leverage its pivotal position between Prairie farmers and destination customers. The Company's common shares are listed on the Toronto Stock Exchange under the symbol VT.

Contact Information

  • Viterra
    Susan Cline
    Investor Relations and Corporate Affairs
    (306) 569-6948
    Website: www.viterra.ca