Newsroom & Financials

CoBank Shareholders Approve Amendments To Governance Bylaws

Posted 6/18/2015

CoBank today announced that shareholders have approved board-proposed amendments to the bank’s governance bylaws.

The changes will begin to take effect on January 1, 2016, and include the following:

  • Gradually reducing the number of elected directors on the board from 24 to 14 over a four-year transition period concluding in 2020;
  • Increasing the maximum number of appointed directors from three to four, in order to provide the board with more flexibility to fill in experience and industry representation gaps. In addition, the board will continue to have two outside directors with no customer or Farm Credit System affiliations; and,
  • Modifying director experience requirements to create better balance between board members with agricultural, Farm Credit and rural infrastructure experience.

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